Allied Irish Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Allied Irish Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Allied Irish Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a broker concerning my remortgage because I am on a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date this year. I am looking for a 5 year fixed rate mortgage. Property worth £200,000, I want to borrow £150,000. I purchased the property 3 years ago for £220,500 and I currently owe 165k to Allied Irish Bank
Do any sections of the UK Finance Lender's Handbook stipulate the requirements for Allied Irish Bank when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Allied Irish Bank) use to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and sent. Received a call from the lender to say they can't move ahead with application unless my current manager issues a letter saying my contract will definitely be prolonged and when new end date will be. Any advice?
I am finding the process of looking for a contractor mortgage extremely frustrating. There doesn't seem to be many 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.
The above information is in relation to properties in England and Wales.
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