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’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 Bank of Scotland?
What criteria does a mortgage lender (for example Bank of Scotland) adopt to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
As contractor looking for a mortgage with Bank of Scotland 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.
Going through the contractor mortgage process to move to a buy to let with a new bank. All documents done and sent. Received a call from the lender to say they can't move ahead with application unless my current manager writes me a letter saying my contract will definitely get extended and when new end date will be. Any thoughts?
I'm an IT contractor, according to my accounts, my average net profit and director's salary is £55,731. I am looking to purchase a house in loc. What are the chances of borrowing 165k by way of a contractor mortgage with Broadstone
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Scotland