Ecology Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Ecology Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Ecology 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 retained a mortgage adviser concerning my remortgage because I am on a fixed term contract of four years (an IT contractor). My contract started date earlier this year. I am looking for a three year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I purchased the property three years ago for £220,500 and I currently owe 115k to Ecology Building Society
As contractor looking for a mortgage with Ecology 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.
I am finding the process of looking for a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Notwithstanding that I am a contractor (freelance journalist) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Ecology Building Society even grant mortgages to contactors ?
Is it true that Ecology Building Society quote higher interest rates in respect of mortgages for contractors?
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Ecology Building Society