Habito Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Habito offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Habito and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
My wife and I are soon to submit for our first mortgage application with Habito. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a meaningful income. Is it going to be a case of just getting a non-contractor mortgage with Habito in my wife’s name only?
How can I make myself more attractive to a lender such as Habito when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
As a contractor (in the Oil & Gas industry) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Habito even grant mortgages to contactors ?
My research online suggests that banks and building societies mostly consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to reflect 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 built up.
I don't know whether Habito are in the business of issuing contractor mortgages but in the event that they do how does a Habito contractor mortgage differ from a standard mortgage?
The above information is in relation to properties in England and Wales.
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