Lloyds TSB Scotland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Lloyds TSB Scotland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Lloyds TSB Scotland 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 an IFA concerning my remortgage because I am on a fixed term contract of four years (a finacial contractor). My contract begin date earlier this year. I am looking for a three year fixed rate deal. Property value £325k, I want to borrow £150,000. I purchased the property four years ago for 138K and I currently owe 120K to Lloyds TSB Scotland
I am an IT contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally from Lloyds TSB Scotland. Am I best advised to contact Lloyds TSB Scotland directly or seek the assistance of a contractor specialist mortgage broker who is used to dealing with contractors and Lloyds TSB Scotland.
What criteria does a mortgage lender (for example Lloyds TSB Scotland) use to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
I am finding the process of looking for a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
Could a contractor mortgage with Lloyds TSB Scotland be a better option for me than a standard Lloyds TSB Scotland mortgage ?
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Lloyds TSB Scotland