State Bank of India UK Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether State Bank of India UK offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about State Bank of India UK and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently on a grad scheme, One year into a two contract. However, I'm unlikely to be moved onto a permanent contract until around June time. So I suppose my question is, will State Bank of India UK even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What is the situation with contractor mortgages and State Bank of India UK? I am a contractor but my partner has a permanent job. Will State Bank of India UK take my salary were we to make an application in both our names?
Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and submitted. Received communication from the lender to say they can't move forward with process unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any advice?
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 State Bank of India UK
My research online indicates that mortgage lenders mostly view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as State Bank of India UK to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
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