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.
Does the CML Lender's Handbook stipulate the requirements for RBS - Direct Line when it comes to contractor mortgages or self-employed mortgages.
As contractor looking for a mortgage with RBS - Direct Line 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.
Even though I am a contractor (freelance journalist) is it necessary for me to supply at least six months of both business and personal bank statements as part of the vetting process for RBS - Direct Line.I am not convinced that my broker is correct.
My research online indicates that banks and building societies mostly view contractors as high risk applicants; so demand 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 contractor-focused IFAs persuade lenders such as RBS - Direct Line to offer funds on the more realistic basis of my contracted rate.
I have no idea if RBS - Direct Line are in the business of issuing contractor mortgages but in the event that they do how does a RBS - Direct Line contractor mortgage differ from a traditional home loan?
The above information is in relation to properties in England and Wales.
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