Nationwide Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Nationwide Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Nationwide 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 have been dealing with a mortgage adviser concerning my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract begin date this year. I am looking for a three year fixed rate deal. Property value £325k, I want to borrow 132K. I bought the property four years ago for £220,500 and I currently owe 115k to Nationwide Building Society
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new lender. All documents done and sent. Received communication from the lender to say they can't move forward with application unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
Myself and my fiance are currently about to apply for our first mortgage with Nationwide Building Society. 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?
How can I make myself more attractive to a lender such as Nationwide Building Society when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online indicates that banks and building societies mostly consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT 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 Nationwide Building Society.
The content set out above covers to properties in England and Wales.
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