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 retained a mortgage adviser concerning my remortgage because I am on 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 begin date earlier this year. I am looking for a 5 year fixed rate deal. Property worth 165K, I want to borrow £150,000. I purchased the property three years ago for £220,500 and I currently owe 120K to Scottish Building Society
Does the CML Lender's Handbook set out the requirements for Scottish Building Society when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with Scottish Building Society 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.
As a contractor (in the Oil & Gas industry) is it necessary for me to produce at least six months of both business and personal bank statements as part of the vetting process for Scottish Building Society.I am not convinced that my broker is correct.
I have no idea whether Scottish Building Society are in the business of issuing contractor mortgages but if they do how does a Scottish Building Society contractor mortgage differ from a traditional home loan?
The content set out above is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Scottish Building Society