Swansea Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Swansea Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Swansea 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 am seeking some mortgage advice. I am currently a media contractor, 18 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around December time. So I suppose my query is, will Swansea Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have retained a mortgage adviser concerning my remortgage because I am on a fixed term contract of 3 years (a media contractor). My contract begin date earlier this year. I am looking for a 5 year fixed rate deal. Property value 165K, I want to borrow £150,000. I bought the property four years ago for £157,000 and I currently owe 115k to Swansea Building Society
Does the UK Finance Lender's Handbook set out the requirements for Swansea Building Society when it comes to contractor mortgages or self-employed mortgages.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
I am lead to believe that banks and building societies mostly view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Swansea Building Society.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Swansea Building Society