Could you qualify for a contractor mortgage from Leeds BS?
Finding out whether you could qualify for a contractor mortgage from Leeds Building Society couldn’t be easier.
As a leading mortgage broker in the UK, Deal Direct has access to product ranges from across the whole of the market. This means we can bring your attention to a wider range of borrowing options and advise you on the loan criteria of all lenders who offer mortgages for contractors.
Leeds Building Society, for instance, has recently reduced rates on its fixed-term ranges, including the 10-year option. Pricing starts from 2.59% for up to 75% LTV for loans of £1million or less.
To qualify, contractors can work anywhere, including outside of the UK. However, the applicant must be:
- a UK taxpayer
- have a bank account in the UK
- have their income paid into that account
- paid through a limited or umbrella company registered in the UK
Other considerations include a minimum of:
- 12 months continuous contract work
- 1 contract renewal
- 3 months business/personal bank statements
It could be that your circumstances exclude you from qualifying for a contractor mortgage from this lender. However, don’t lose heart as lenders differ and this is where consulting with Deal Direct can prove valuable.
In evaluating your priorities and circumstances, our skilled team members can match you with lenders who are actively seeking to do business with people like you. We can find you mortgages that offer competitive rates regardless of whether you are seeking the longer-term security of a 10-year fix or the flexibility of a 2 year.