Hodge Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Hodge offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Hodge 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 broker concerning my remortgage because I am on a fixed term contract of two years (an engineering contractor). My contract begin date last year. I am seeking a three year fixed rate deal. Property worth 165K, I want to borrow £150,000. I purchased the property three years ago for £220,500 and I currently owe 120K to Hodge
What criteria does a mortgage lender (for example Hodge) use to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
Going through the contractor mortgage process to move to a buy to let with a new bank. All documents done and sent. Received communication from the lender to say they can't move ahead with process unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any advice?
I am finding the process of looking for a contractor mortgage extremely 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.
How can I make myself more attractive to a lender such as Hodge when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
The above information is in relation to properties in England and Wales.
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