RBS - Direct Line One Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether RBS - Direct Line One offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about RBS - Direct Line One and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a mortgage adviser regarding my remortgage because I have just won a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date last year. I am seeking a 5 year fixed rate mortgage. Property value 165K, I want to borrow £150,000. I bought the property three years ago for 138K and I currently owe 115k to RBS - Direct Line One
What is the situation with contractor mortgages and RBS - Direct Line One? I am a contractor but my OH has a permanent job. Will RBS - Direct Line One take my salary were we to make a joint application?
Me and and my wife are soon to submit for our first mortgage application with RBS - Direct Line One. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a healthy income. Is it going to be a case of just getting a non-contractor mortgage with RBS - Direct Line One in my wife’s name alone?
Notwithstanding that I am a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do RBS - Direct Line One even grant mortgages to contactors ?
My research online suggests that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by making use of the expertise and contacts they have established.
The above information is in relation to properties in England and Wales.
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