ModaMortgages Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether ModaMortgages offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about ModaMortgages and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is the situation with contractor mortgages and ModaMortgages? I am a contractor but my OH has a permanent job. Will ModaMortgages take my salary if we make an application in both our names?
What criteria does a mortgage lender (for example ModaMortgages) 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?
As contractor looking for a mortgage with ModaMortgages 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.
Even though I am a contractor (HR consultant) is it necessary for me to supply at least six months of both business and personal bank statements as part of the vetting process for ModaMortgages.I am not convinced that my broker is correct.
Could a contractor mortgage with ModaMortgages be a better option for me than a traditional ModaMortgages mortgage ?
The above information is in relation to properties in England and Wales.
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