Bank of Scotland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Scotland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Scotland and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What criteria does a mortgage lender (for example Bank of Scotland) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
As contractor looking for a mortgage with Bank of Scotland 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.
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and sent. Received a call from the lender to say they can't move ahead with application unless my current manager writes me a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
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?
Notwithstanding that I am a contractor (freelance journalist) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Bank of Scotland even grant mortgages to contactors ?
The content set out above is in relation to properties in England and Wales.
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