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 a finacial contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally with Scottish Building Society. Would it be wise to contact Scottish Building Society directly or seek the services of a contractor specialist mortgage broker who focuses on dealing with contractors and Scottish Building Society.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 85k contractor mortgage with a lender such as Scottish Building Society?
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?
Even though I am a contractor (in the Oil & Gas industry) do I really need to produce at least six months of both business and personal bank statements as part of the due diligence process for Scottish Building Society.I am not convinced that my broker is correct.
My research online suggests that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker utilise bespoke underwriting with lenders such as Scottish Building Society.
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