Scottish Widows Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Scottish Widows offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Scottish Widows and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
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 95k contractor mortgage with a lender such as Scottish Widows?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All documents done and sent. Received communication from the lender to say they can't move forward with application unless my current manager issues a letter confirming that my contract will definitely be prolonged and when new end date will be. Any advice?
I understand that for some banks ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with Scottish Widows
I'm a media contractor, based on my accounts, my average net profit and director's salary is £45,000. I am looking to purchase a house in loc. What are the chances of being able to borrow 180k via a contractor mortgage with Meliden
My research online indicates that banks and building societies generally view 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 paint an accurate picture of my income potential. Will a contractor-focused IFAs utilise bespoke underwriting with lenders such as Scottish Widows.
The content set out above is in relation to properties in England and Wales.
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