Halifax Loans Contractor Mortgages - Help and FAQs

I am looking for some mortgage advice. I am currently on a grad scheme, One year into a two contract. the chances of me being moved onto an employed basis are slim. My query is, will Halifax Loans even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?

I have retained an IFA concerning my remortgage because I am on a fixed term contract of 3 years (an engineering contractor). My contract begin date last year. I am looking for a five year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I bought the property 3 years ago for £157,000 and I currently owe 120K to Halifax Loans

I understand that for some banks ‘contractors’ can be a red flag to their lending decision. 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 Halifax Loans

I am lead to believe that banks and building societies mostly consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have established.

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?