Scottish Building Society Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Scottish Building Society offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Scottish Building Society and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Scottish Building Society in his name using our joint deposit and for me to be added at a later date?
Do any sections of the CML Lender's Handbook set out the requirements for Scottish Building Society when it comes to contractor mortgages or self-employed mortgages.
My wife and I are soon to submit for our first mortgage application with Scottish Building Society. Later this year I start working as a contractor. My wife is time employed as an accountant and does have a meaningful salary. Is it going to be a case of just getting a non-contractor mortgage with Scottish Building Society in my wife’s name alone?
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 banks and building societies mostly consider contractors as high risk applicants; so demand 3 years’ accounts to validate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Scottish Building Society to offer funds on the more realistic basis of my contracted rate.
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