Metro Bank Providing Efficient Contractor Mortgage Solutions
Enjoy a Great Experience in Every Step of Mortgaging
Metro Bank, founded in 2010, was the first new high street bank in the UK in over 150 years. It is known for its friendly service and easy-to-use banking. Metro Bank offers many services, including personal and business accounts, mortgages, loans, and credit cards. For mortgages, they help you with buying a home, remortgaging, or getting a new property. Their advisors guide you through every step and make the process quick and simple. With competitive rates and a focus on customer service, Metro Bank aims to make getting a mortgage as simple and stress-free as possible.
We work with more than 120 mortgage lenders, including:
Why Metro Bank is a Great Option For Contractors
Metro Bank is one of the lenders that wants to help contractors get mortgages. They do things differently from big banks. One of the best things about their mortgage services is how they review each application individually. Unlike some big banks that rely on software to make decisions, Metro Bank looks at each case on its own. This personal approach helps contractors, who might not fit into the standard software criteria used by larger banks. By focusing on each applicant’s unique situation, Metro Bank aims to provide fair and more tailored mortgage options for contractors. This means you get a more personalised service, making it easier to get the mortgage that’s right for you.
Curious About How Much You Can Borrow?
Find out in seconds! Use our quick and easy mortgage calculators to see how much you could borrow based on your day rate. Keep in mind, this is just an estimate – for a free, personalised recommendation, contact us today!
We partner with banks and underwriters to navigate the complex landscape of contracting and simplify the process of using contract earnings alone for affordability assessments.
In today’s fluctuating housing market, understanding how much you can borrow is crucial. As a local mortgage broker in Watford, we provide expert advice to help you navigate this unpredictability. Whether you’re a first-time buyer in Watford, looking for a buy-to-let mortgage, or considering remortgaging in Watford, we ensure you secure the best possible deal.
Your Estimated Borrowing Amount
Essential Checklist for Securing a Metro Bank Contractor Mortgage
If Metro Bank seems like a good fit, we at contractor mortgage solutions can help with your application. Here’s what you need to know:
Contract Requirements
Your current contract must have at least one month remaining at the time of application and must be signed by both parties.
Income and Currency
Halifex accepts income in many currencies, including from Europe, Africa, Asia, North America, the Middle East, and Australasia.
They calculate income based on a 46-week period for daily rates.
Documentation for ltd
Provide the latest month’s business and personal bank statements.
Documentation For Umbrella Contractors
Submit the latest three months’ umbrella payslips along with the corresponding three months of personal bank statements.
Documentation for Payee Contractors
3 months bank statements and payslips.
Contracts Gaps and Earnings
3 months bank statements
There shouldn’t be more than a six-week break between contracts in the past 12 months.
You must earn at least £75,000 a year, with a daily rate of £326.08 or more over 46 weeks.
Partnering with Metro Bank for Seamless Contractor Mortgages
Our close partnership with Metro Bank’s senior underwriters ensures your application is handled efficiently, reducing the usual paperwork and waiting time. We’ve helped hundreds of applicants. This means we can submit your application correctly with all the right documents, avoiding delays. Usually, we can get you a Mortgage in Principle within 24 hours. After that, the full application takes about 3 days, with completion in 2 to 4 weeks. This has allowed us to build a strong relationship with Metro Bank and know the application process well.
Compare & Find the Right Mortgage for You
Don’t settle for less—explore, compare, and secure the best mortgage deal tailored to your needs.
Mortgage Comparison
Find the Right Mortgage in Minutes
Finding the right mortgage can be overwhelming, but we make it simple. Our mortgage comparison tool lets you explore options from top lenders, ensuring you get the best deal for your situation. Whether you’re a contractor, self-employed, or a first-time buyer, you can compare interest rates, loan terms, and monthly payments all in one place. Get a clear breakdown of costs and repayment terms before making your decision. With tailored solutions for contractors, securing the right mortgage has never been easier.
Mortgage Quote
Personalized Mortgage Quote, Instantly
Want to know how much you can borrow and at what rate? Our mortgage quote tool gives you a quick, no-obligation estimate based on your income and financial profile. We specialize in contractor mortgages, ensuring you get access to exclusive rates designed for self-employed professionals.
With no impact on your credit score, you can explore your mortgage options with confidence. Get a personalized quote in minutes and take the next step toward securing your dream home.
FAQ’S
Is Metro Bank covered by FSCS?
Your eligible deposits with Metro Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
Who does Metro Bank use for credit checks?
Metro Bank performs credit checks using major agencies like TransUnion, Experian, and Equifax to ensure a thorough assessment.
Does Metro Bank allow foreign currency?
Metro Bank does not accept foreign currency income. However, they provide solutions for other types of income, such as income from contracts, freelance work, or self-employment etc.