National Counties Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether National Counties Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about National Counties Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, One year into a two contract. the chances of me being moved onto a permanent contract are slim. My query is, will National Counties Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What criteria does a mortgage lender (for example National Counties Building Society) use to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. There doesn't seem to be many lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
My research online suggests that mortgage lenders in the main consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as National Counties Building Society.
Could a contractor mortgage with National Counties Building Society be a better option for me than a traditional National Counties Building Society mortgage ?
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