Scottish Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Scottish Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Scottish Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am looking for some mortgage advice. I am currently on a grad scheme, 12 months into a 2 contract. the chances of me being moved onto a permanent contract are slim. So I suppose my query is, will Scottish Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
For some years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Scottish Building Society in his name using our joint deposit and for me to be added at a later date?
What criteria does a mortgage lender (for example Scottish Building Society) use to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
Myself and my fiance are currently about to apply for our first mortgage with Scottish Building Society. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed as a lawyer, and so does have a healthy salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
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 Scottish Building Society even grant mortgages to contactors ?
The above information is in relation to properties in England and Wales.
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