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.
I am seeking some mortgage advice. I am currently on a grad scheme, One year into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around December time. So I suppose my query is, will Scottish Building Society even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am an engineering contractor looking to buy a home in Bedford. My next step is to secure a mortgage ideally from Scottish Building Society. Would it be wise to contact Scottish Building Society directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and Scottish Building Society.
What criteria does a mortgage lender (for example Scottish Building Society) use to class someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
I am finding the process of looking for a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
I understand that for some banks ‘contractors’ can be a red flag to their lending decision. Are there any lenders that take the same approach to mortgages for contractors as they do for standard home loan applications. I am particularly interested in a mortgage deal with Scottish Building Society
The content set out above is in relation to properties in England and Wales.
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