Bank of Scotland Private Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Scotland Private offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Scotland Private and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
Do any sections of the CML Lender's Handbook stipulate the requirements for Bank of Scotland Private when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Bank of Scotland Private will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
I am lead to believe that mortgage lenders generally consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Bank of Scotland Private to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Bank of Scotland Private be a better option for me than a standard Bank of Scotland Private mortgage ?
The content set out above is in relation to properties in England and Wales.
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