RBS - Direct Line Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether RBS - Direct Line offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about RBS - Direct Line and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is current approach to contractor mortgages and RBS - Direct Line? I am a contractor but my OH has a permanent job. Will RBS - Direct Line take my salary were we to make an application in both our names?
What criteria does a mortgage lender (for example RBS - Direct Line) 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 business?
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 a call from the lender to say they can't move ahead with application unless my current manager writes me a letter confirming that my contract will definitely get extended and when new end date will be. Any thoughts?
Myself and my fiance are currently about to apply for our first mortgage with RBS - Direct Line. 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 good incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
My research online indicates that mortgage lenders generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as RBS - Direct Line to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
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