Bradford & Bingley Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bradford & Bingley offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bradford & Bingley 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 broker concerning my remortgage because I have just won a fixed term contract of 3 years (a media contractor). My contract started date earlier this year. I am looking for a 5 year fixed rate deal. Property value 165K, I want to borrow 132K. I bought the property 3 years ago for £220,500 and I currently owe 165k to Bradford & Bingley
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and sent. Received a call 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 well aware that the days of self-certification contractor mortgages are long gone. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with Bradford & Bingley
Is it true that Bradford & Bingley quote higher interest rates when it comes to mortgages for contractors?
I am lead to believe that banks and building societies in the main view contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have established.
The content set out above is in relation to properties in England and Wales.
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