Halifax Loans Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Halifax Loans offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Halifax Loans 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 mortgage adviser concerning my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract begin date last year. I am looking for a 5 year fixed rate mortgage. Property value £325k, I want to borrow 132K. I bought the property four years ago for 138K and I currently owe 115k to Halifax Loans
Does the CML Lender's Handbook stipulate the requirements for Halifax Loans when it comes to contractor mortgages or self-employed mortgages.
How can I make myself more attractive to a lender such as Halifax Loans when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online indicates that mortgage lenders generally consider 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 reflect 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 built up.
I have no idea whether Halifax Loans grant contractor mortgages but if they do how does a Halifax Loans contractor mortgage differ from a traditional mortgage?
The content set out above covers to properties in England and Wales.
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