Bank of Scotland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Scotland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Scotland and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For some years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Bank of Scotland in his name using our joint deposit and for me to be added at a later date?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new mortgage company. All paperwork completed and submitted. Received communication from the lender to say they can't move ahead with application unless my current manager issues a letter saying my contract will definitely be prolonged and when new end date will be. Any advice?
My wife and I are soon to submit for our first mortgage application with Bank of Scotland. Later this year I start working as a contractor. My wife is time employed as a surgeon and does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Bank of Scotland in my wife’s sole name?
How can I make myself more attractive to a lender such as Bank of Scotland when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
My research online indicates that mortgage lenders mostly view contractors as high risk applicants; so demand 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 broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Bank of Scotland.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Scotland