Scottish Building Society Contractor Mortgages - Help and FAQs

I am seeking some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. the chances of me being moved onto a permanent contract are slim. So I suppose my question is, will Scottish Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?

I have been dealing with a mortgage adviser regarding my remortgage because I am on a fixed term contract of 3 years (on a grad scheme). My contract started date earlier this year. I am looking for a 5 year fixed rate deal. Property worth £325k, I want to borrow £150,000. I bought the property 3 years ago for 138K and I currently owe 165k to Scottish Building Society

I am a media contractor looking to buy a home in London. My next step is to secure a mortgage ideally with Scottish Building Society. Would it be wise to contact Scottish Building Society directly or seek the services of a contractor specialist mortgage broker who is used to dealing with contractors and Scottish Building Society.

My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?

I am lead to believe that mortgage lenders mostly consider contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused IFAs remove the hassle by making use of the expertise and contacts they have built up.