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#ContractorMortgages

Specialist contractor mortgage brokers in the UK.

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Furness Contractor Mortgages

Furness BS Contractor Mortgages are open to all types of contractors. They may be small in size when compared to other mortgage lenders, but they sure are contractor friendly and are flexible in their underwriting.

Initially, they based their lending in Barrow-in-Furness, Cumbria and then slowly and gradually they started offering their mortgage services nationwide.

Furness Building Society offers some of the most competitive contractor mortgages compared to their peers on the high street. The key benefit of going through us is, our team of mortgage brokers can arrange for an agreement in principle in a matter of few hours, through our fast and efficient mortgage application process.

What is their mortgage lending criteria

  • An up to date CV with complete details of employment mentioned including gaps (if any) will be required
  • You should be employed in the same industry for at least 2 years and there should not be any significant gaps in employment
  • Furness will verify your contract copies for the last 2 years
  • You must be on a 12 month contract, with a minimum of 6 months left on it OR your current employer should've renewed your contract at lease once
  • Minimum deposit required on the mortgage is 20% and the maximum Loan to Value (LTV) is 20%
  • Previous employer reference maybe required if you have been employed within the last 2 years

Furness will assess your mortgage affordability by calculating your gross income as 46 weeks per annum. Since they are a building society, their processing times may be a bit longer than other mortgage lenders.

We can make this process fast through our team of mortgage brokers who have strong relationships with key underwriters. Please get in touch with us with your requirements and we'll be more than happy to help you.

You can also try our contractor mortgage calculator to find out how much you can borrow.

Contractor Friendly Mortgage Lenders

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