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.
I have been dealing with an IFA regarding my remortgage because I have just won a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date last year. I am seeking a three year fixed rate deal. Property worth £200,000, I want to borrow £150,000. I bought the property three years ago for £157,000 and I currently owe 120K to Bank of Scotland
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 125k contractor mortgage with a lender such as Bank of Scotland?
Do any sections of the CML Lender's Handbook stipulate the requirements for Bank of Scotland when it comes to contractor mortgages or self-employed mortgages.
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 (IT consultant) is it necessary for me to produce at least six months of both business and personal bank statements as part of the due diligence process for Bank of Scotland.I am not convinced that my broker is correct.
The content set out above is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Scotland