Pepper Money Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Pepper Money offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Pepper Money 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 broker concerning my remortgage because I have just won a fixed term contract of 3 years (on a grad scheme). My contract started date last year. I am looking for a 5 year fixed rate deal. Property worth 165K, I want to borrow 132K. I purchased the property three years ago for £220,500 and I currently owe 165k to Pepper Money
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 85k contractor mortgage with a lender such as Pepper Money?
Do any sections of the UK Finance Lender's Handbook stipulate the requirements for Pepper Money when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Pepper Money) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
Notwithstanding that I am a contractor (freelance journalist) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Pepper Money even grant mortgages to contactors ?
The above information is in relation to properties in England and Wales.
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