Topaz Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Topaz Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Topaz Finance and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
How can I make myself more attractive to a lender such as Topaz Finance when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
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. In particular I have my eye on a mortgage deal with Topaz Finance
If I advise Topaz Finance that I’m contracting, will they charge me a higher rate on my home loan?
I am lead to believe that mortgage lenders in the main view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by maximising use of the expertise and contacts they have established.
I have no idea if Topaz Finance grant contractor mortgages but if they do how does a Topaz Finance contractor mortgage differ from a traditional mortgage?
The content set out above is in relation to properties in England and Wales.
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