Clydesdale Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Clydesdale Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Clydesdale Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What criteria does a mortgage lender (for example Clydesdale Bank) adopt to categorise a borrower 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 Clydesdale Bank 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.
Myself and my husband are currently about to apply for a mortgage with Clydesdale Bank. Next month I commence working as a contractor. My husband is full time employed and so does have a healthy income. Is it going to be a case of just getting a non-contractor mortgage with Clydesdale Bank in my husband’s sole name?
I understand that for some lenders ‘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. In particular I have my eye on a mortgage deal with Clydesdale Bank
Is it correct that that as contractor I would need a huge deposit up to as much as 50 per cent to qualify for a mortgage with Clydesdale Bank.
The content set out above covers to properties in England and Wales.
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