Yorkshire Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Yorkshire Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Yorkshire 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 an engineering contractor looking to buy a home in London. My next step is to secure a mortgage ideally with Yorkshire Building Society. Would it be wise to contact Yorkshire Building Society directly or seek the assistance of a contractor specialist mortgage broker who is used to dealing with contractors and Yorkshire Building Society.
What criteria does a mortgage lender (for example Yorkshire Building Society) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
As contractor looking for a mortgage with Yorkshire Building Society will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
Going through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and sent. Received communication from the lender to say they can't move forward with process unless my current manager writes me a letter confirming that my contract will definitely get extended and when new end date will be. Any advice?
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.
The content set out above is in relation to properties in England and Wales.
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