Sainsbury's Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Sainsbury's Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Sainsbury's Bank 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 two 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 looking for a five year fixed rate mortgage. Property worth £200,000, I want to borrow 132K. I purchased the property 3 years ago for £157,000 and I currently owe 120K to Sainsbury's Bank
Do any sections of the UK Finance Lender's Handbook set out the requirements for Sainsbury's Bank when it comes to contractor mortgages or self-employed mortgages.
Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and sent. Received a call from the lender to say they can't move forward with application unless my current manager writes me a letter saying my contract will definitely be prolonged and when new end date will be. Any thoughts?
How can I make myself more attractive to a lender such as Sainsbury's Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
As a contractor (freelance journalist) do I really need to produce at least six months of both business and personal bank statements as part of the due diligence process for Sainsbury's Bank.I am not convinced that my broker is correct.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Sainsbury's Bank