RBS- First Active Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether RBS- First Active offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about RBS- First Active and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently an engineering contractor, 18 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My question is, will RBS- First Active even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am a self employed contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company confirming I will be moved onto a permanent contract before the expiry of my set term? Would this assist in applying for a mortgage with lend
Myself and my fiance are currently about to apply for our first mortgage with RBS- First Active. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed as an accountant, and so does have a healthy salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
If I tell RBS- First Active that I’m contracting, will they charge me a higher rate on my home loan?
I am lead to believe that mortgage lenders in the main consider 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 reflect an accurate picture of my income potential. Will a contractor-focused IFAs persuade lenders such as RBS- First Active to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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