First Direct Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether First Direct offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about First Direct 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 three year contract. the chances of me being moved onto an employed basis are slim. So I suppose my query is, will First Direct even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
What is current approach to contractor mortgages and First Direct? I am a contractor but my hubby has a permanent job. Will First Direct take my salary were we to make an application in both our names?
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 submitted. Received communication from the lender to say they can't move ahead with process unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any advice?
I'm an engineering contractor, according to my accounts, my average net profit and director's salary is £45,000. I am looking to purchase a house in loc. What are the chances of being able to borrow 195k via a contractor mortgage with Englefield Green
My research online indicates that banks and building societies generally consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as First Direct.
The content set out above covers to properties in England and Wales.
Find out how to order your redemption statement request from First Direct