National Westminster Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether National Westminster Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about National Westminster 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 been dealing with a broker regarding my remortgage because I have just won a fixed term contract of two years (on a grad scheme). My contract started date earlier this year. I am looking for a three year fixed rate deal. Property worth £200,000, I want to borrow £150,000. I bought the property three years ago for £157,000 and I currently owe 115k to National Westminster Bank
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with National Westminster Bank in his name using our joint deposit and for me to be added at a later date?
Going through the contractor mortgage process to move to a buy to let with a new bank. All documents done and submitted. Received communication from the lender to say they can't move ahead with application unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any advice?
Is it correct that National Westminster Bank quote higher interest rates in respect of mortgages for contractors?
My research online indicates that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as National Westminster Bank to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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