LendInvest Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether LendInvest offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about LendInvest and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am an IT contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally with LendInvest. Should I contact LendInvest directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and LendInvest.
What criteria does a mortgage lender (for example LendInvest) use to class someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Myself and my fiance are currently about to apply for our first mortgage with LendInvest. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed as a lawyer, and so does have a good incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I understand that for some mortgage companies ‘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. In particular I have my eye on a mortgage deal with LendInvest
I am lead to believe that banks and building societies in the main 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 IFAs utilise bespoke underwriting with lenders such as LendInvest.
The above information is in relation to properties in England and Wales.
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