Zephyr Mortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Zephyr Mortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Zephyr Mortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have retained an IFA concerning my remortgage because I have just won a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date earlier this year. I am seeking a three year fixed rate mortgage. Property value £325k, I want to borrow 132K. I bought the property three years ago for £220,500 and I currently owe 120K to Zephyr Mortgages
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 95k contractor mortgage with a lender such as Zephyr Mortgages?
What criteria does a mortgage lender (for example Zephyr Mortgages) use to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
Is it correct that that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Zephyr Mortgages.
Could a contractor mortgage with Zephyr Mortgages be a better option for me than a standard Zephyr Mortgages mortgage ?
The content set out above covers to properties in England and Wales.
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