Skipton Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Skipton Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Skipton 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 a mortgage adviser regarding my remortgage because I am on a fixed term contract of two years (a media contractor). My contract started date last year. I am seeking a 5 year fixed rate deal. Property worth £325k, I want to borrow £150,000. I purchased the property 3 years ago for 138K and I currently owe 165k to Skipton Building Society
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 75k contractor mortgage with a lender such as Skipton Building Society?
Does the UK Finance Lender's Handbook set out the requirements for Skipton Building Society when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Skipton Building Society) adopt to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
I am finding the process of trying to obtain 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.
The content set out above is in relation to properties in England and Wales.
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