Cynergy Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Cynergy Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Cynergy Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
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 85k contractor mortgage with a lender such as Cynergy Bank?
How can I make myself more attractive to a lender such as Cynergy Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Even though I am a contractor (freelance journalist) do I really need to produce at least six months of both business and personal bank statements as part of the vetting process for Cynergy Bank.I am not convinced that my broker is correct.
My research online suggests that mortgage lenders mostly consider 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 reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as Cynergy Bank to offer funds on the more realistic basis of my contracted rate.
I have no idea if Cynergy Bank grant contractor mortgages but in the event that they do how does a Cynergy Bank contractor mortgage differ from a standard mortgage?
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Cynergy Bank