Dudley Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Dudley Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Dudley Building Society 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 mortgage adviser concerning my remortgage because I am on a fixed term contract of 3 years (on a grad scheme). My contract begin date this year. I am seeking a three year fixed rate deal. Property worth 165K, I want to borrow 132K. I purchased the property three years ago for £220,500 and I currently owe 115k to Dudley Building Society
Do any sections of the UK Finance Lender's Handbook stipulate the requirements for Dudley Building Society when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Dudley Building Society 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.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
My research online suggests that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Dudley Building Society.
The above information is in relation to properties in England and Wales.
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