Mortgage Lender for Fixed Term Contracts

pazzam291

Hi

Can anyone suggest any lender i can use for a 50% LTV residential mortgage on interest only. My issue is I'm on a 12 month fixed term contract with 7 months remaining. Its further complicated by the fact that for 10 years prior to this I was a contractor using PAYE through my own limited company but for the last 6 months I wasnt working. Most lenders seem to say you must have been doing the same sort of thing for the previous 2 years.

Are there any lenders out there that will either accept this or maybe not even ask about my employment status. Any help/advice would be gratefully accepted.

Thanks

GoldenShadow

Speak to a broker.

I'm on a fixed term contract but need to have a year left or more (it's 2.5 year contract) according to my broker for my situation. Otherwise he said if I had a background in contracting and can basically prove I've had a few in a row that is good enough for some too.

My friend is a teacher and in the early years it's very common they only get one year contracts. My line of work is often but kit always as a contractor.

I would try a broker. I spoke to mine by email/phone and haven't been charged anything (not looking to proceed with anything until end of summer).

libf

pazzam291 wrote: »

Hi
maybe not even ask about my employment status. Any help/advice would be gratefully accepted.

They will definitely ask!

ellie27

Use a broker.

My husband is a contractor, is his own ltd company.

His contract was running out the week before we made the full mortgage application.

Our mortgage was really based on his sets of accounts for the last 3 years, they took an average of them. He had been out of contract a couple times, once for 4 months, but they were not in the last year.

We were fine, were only applying for 35%