Virgin Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Virgin offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Virgin and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for 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 March time. My query is, will Virgin even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with a broker concerning my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract begin date this year. I am looking for a five year fixed rate deal. Property worth £325k, I want to borrow £150,000. I bought the property three years ago for £220,500 and I currently owe 115k to Virgin
Does the CML Lender's Handbook set out the requirements for Virgin when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Virgin) 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 Virgin. 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 healthy 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?
The above information is in relation to properties in England and Wales.
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