Gen H Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Gen H offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Gen H and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently on a grad scheme, 18 months into a 2 contract. the chances of me being moved onto a permanent contract are slim. My query is, will Gen H even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained an IFA concerning my remortgage because I am on a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date this year. I am seeking a 5 year fixed rate deal. Property value £200,000, I want to borrow £150,000. I purchased the property 3 years ago for £157,000 and I currently owe 165k to Gen H
What is the situation with contractor mortgages and Gen H? I am a contractor but my OH has a permanent job. Will Gen H take my salary should we make a joint application?
What criteria does a mortgage lender (for example Gen H) adopt to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
I have no idea if Gen H are in the business of issuing contractor mortgages but if they do how does a Gen H contractor mortgage differ from a standard home loan?
The content set out above covers to properties in England and Wales.
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