Monmouthshire Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Monmouthshire Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Monmouthshire 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 an IFA regarding my remortgage because I am on a fixed term contract of four years (on a grad scheme). My contract started date this year. I am looking for a three year fixed rate deal. Property value £200,000, I want to borrow £150,000. I bought the property 3 years ago for £220,500 and I currently owe 165k to Monmouthshire Building Society
What is current approach to contractor mortgages and Monmouthshire Building Society? I am a contractor but my OH has a permanent job. Will Monmouthshire Building Society take my salary should we make a joint application?
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 85k contractor mortgage with a lender such as Monmouthshire Building Society?
What criteria does a mortgage lender (for example Monmouthshire Building Society) use to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
Is it true that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Monmouthshire Building Society.
The content set out above is in relation to properties in England and Wales.
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