Co operative Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Co operative Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Co operative Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What criteria does a mortgage lender (for example Co operative Bank) use to categorise someone 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 Co operative Bank 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.
I am finding the process of trying to obtain a contractor mortgage very 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.
How can I make myself more attractive to a lender such as Co operative Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Even though I am a contractor (IT consultant) do I really need to produce at least six months of both business and personal bank statements as part of the due diligence process for Co operative Bank.I am not convinced that my broker is correct.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Co operative Bank