With around 15% of the British workforce now classified as self employed (source ONS 2017) the contractor market is an important part of the lending mix. Contractors often find the process of getting a mortgage complex, with some lenders shying away from this type of lending.
Buckinghamshire Building Society has long been committed to supporting the underserved contractor market helping contractors who may have slightly more quirky circumstances. We believe it is important to understand the intricacies of this type of employment and our manual underwriting helps us to take a pragmatic and measured view on the merits of each case.
Our criteria allows
- up to 95% LTV for contractors with 7 months contracting with 1 renewal
- we can also consider those with continuous job roles across different employers
- The Society calculates day rate x 5 x 48 and manually assesses each application, with no reliance on an affordability calculator
- The Society does not credit search or score at DIP stage and advisers have easy access to obtain a quick decision
For more details telephone our underwriting team on 01494 879517 or email dip@bucksbs.co.uk or view our products on https://www.bucksbs.co.uk/contractors
