April Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether April Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about April 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 Oil & Gas contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally with April Mortgages. Should I contact April Mortgages directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and April Mortgages.
Does the CML Lender's Handbook stipulate the requirements for April Mortgages when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with April 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.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as April Mortgages to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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