NRAM Ltd Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether NRAM Ltd offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about NRAM Ltd and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
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 95k contractor mortgage with a lender such as NRAM Ltd?
As contractor looking for a mortgage with NRAM Ltd will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
Myself and my fiance are currently about to apply for our first mortgage with NRAM Ltd. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a healthy incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I'm an IT contractor, based on my accounts, my average net profit and director's salary is £65,876. I am looking to purchase a house in loc. What are the chances of borrowing 165k by way of a contractor mortgage with Broadstone
I am lead to believe that banks and building societies generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as NRAM Ltd.
The content set out above covers to properties in England and Wales.
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