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 have been dealing with a broker concerning my remortgage because I am on a fixed term contract of four years (a finacial contractor). My contract begin date last year. I am seeking a 5 year fixed rate mortgage. Property worth £200,000, I want to borrow 132K. I purchased the property four years ago for £220,500 and I currently owe 115k to Scottish Building Society
What is current approach to contractor mortgages and Scottish Building Society? I am a contractor but my partner has a permanent job. Will Scottish Building Society take my salary should we make an application in both our names?
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 over a particular percentage of a business?
I am finding the process of trying to obtain a contractor mortgage very frustrating. I can't seem to find any 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 Scottish Building Society be a better option for me than a traditional Scottish Building Society mortgage ?
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Scottish Building Society