Zephyr Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Zephyr Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Zephyr Mortgages 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 an IT contractor, 12 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. My question is, will Zephyr Mortgages even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with a broker regarding my remortgage because I am on a fixed term contract of 3 years (on a grad scheme). My contract begin date this year. I am looking for a five year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I purchased the property three years ago for 138K and I currently owe 165k to Zephyr Mortgages
What criteria does a mortgage lender (for example Zephyr Mortgages) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
As contractor looking for a mortgage with Zephyr Mortgages 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.
Could a contractor mortgage with Zephyr Mortgages be a better option for me than a standard Zephyr Mortgages mortgage ?
The above information is in relation to properties in England and Wales.
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