Platform Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Platform offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Platform and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am a finacial contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally with Platform. Should I contact Platform directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Platform.
I am finding the process of trying to obtain a contractor mortgage extremely frustrating. I can't seem to find any lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Even though I am a contractor (IT consultant) is it necessary for me to supply at least six months of both business and personal bank statements as part of the due diligence process for Platform.I am not convinced that my broker is correct.
My research online indicates that banks and building societies mostly consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by maximising use of the expertise and contacts they have established.
Could a contractor mortgage with Platform be a better option for me than a standard Platform mortgage ?
The content set out above is in relation to properties in England and Wales.
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