Paratus Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Paratus offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Paratus 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 have just won a fixed term contract of two years (on a grad scheme). My contract begin date earlier this year. I am looking for a 5 year fixed rate mortgage. Property value 165K, I want to borrow £150,000. I purchased the property four years ago for £157,000 and I currently owe 165k to Paratus
I am Oil & Gas contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally with Paratus. Would it be wise to contact Paratus directly or seek the assistance of a contractor specialist mortgage broker who focuses on dealing with contractors and Paratus.
What criteria does a mortgage lender (for example Paratus) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
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.
Is it correct that that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Paratus.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Paratus