Topaz Finance Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Topaz Finance offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Topaz 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 a mortgage adviser regarding my remortgage because I have just won a fixed term contract of four years (an IT contractor). My contract begin date earlier this year. I am seeking a five year fixed rate mortgage. Property worth £325k, I want to borrow 132K. I purchased the property four years ago for 138K and I currently owe 115k to Topaz Finance
For some years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Topaz Finance in his name using our joint deposit and for me to be added at a later date?
What criteria does a mortgage lender (for example Topaz Finance) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
As contractor looking for a mortgage with Topaz Finance 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.
I don't know if Topaz Finance grant contractor mortgages but if they do how does a Topaz Finance contractor mortgage differ from a traditional home loan?
The content set out above is in relation to properties in England and Wales.
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