Secure Trust Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Secure Trust Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Secure Trust Bank 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 an engineering contractor, One year into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around June time. So I suppose my query is, will Secure Trust Bank even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Secure Trust Bank in his name using our joint deposit and for me to be added at a later date?
As contractor looking for a mortgage with Secure Trust Bank will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
How can I make myself more attractive to a lender such as Secure Trust Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am lead to believe that mortgage lenders generally 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 give an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Secure Trust Bank to offer funds on the more realistic basis of my contracted rate.
The content set out above covers to properties in England and Wales.
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