Gen H Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Gen H offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Gen H and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 125k contractor mortgage with a lender such as Gen H?
Do any sections of the CML Lender's Handbook set out the requirements for Gen H when it comes to contractor mortgages or self-employed mortgages.
Myself and my fiance are currently about to apply for our first mortgage with Gen H. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a good salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I understand that for some mortgage companies ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. In particular I have my eye on a mortgage deal with Gen H
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have established.
The above information is in relation to properties in England and Wales.
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