Coutts Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Coutts Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Coutts Finance and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with an IFA concerning my remortgage because I have just won a fixed term contract of four years (a media contractor). My contract begin date earlier this year. I am looking for a five year fixed rate deal. Property worth 165K, I want to borrow £150,000. I bought the property four years ago for 138K and I currently owe 120K to Coutts Finance
I am a freelance contractor. Mortgage options are being looked at but its problematic. I have considered is whether I could get a letter from my company clarifying that I will be moved onto a permanent contract prior to the expiry of my set term? Would this assist in applying for a mortgage with lend
What criteria does a mortgage lender (for example Coutts Finance) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
Me and and my wife are soon to submit for our first mortgage application with Coutts Finance. Later this year I start working as a contractor. My wife is time employed as an accountant and does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with Coutts Finance in my wife’s sole name?
My research online indicates that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have established.
The above information is in relation to properties in England and Wales.
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