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’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 125k contractor mortgage with a lender such as Dudley Building Society?
Does the UK Finance Lender's Handbook set out 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.
Going through the contractor mortgage process to move to a buy to let with a new mortgage company. All documents done and sent. Received a call from the lender to say they can't move ahead with process unless my current manager writes me a letter saying my contract will definitely be prolonged and when new end date will be. Any thoughts?
I am lead to believe that mortgage lenders in the main view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by maximising use of the expertise and contacts they have established.
The content set out above is in relation to properties in England and Wales.
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