State Bank of India UK Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether State Bank of India UK offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about State Bank of India UK and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 85k contractor mortgage with a lender such as State Bank of India UK?
Do any sections of the CML Lender's Handbook stipulate the requirements for State Bank of India UK when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example State Bank of India UK) adopt to categorise a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a company?
How can I make myself more attractive to a lender such as State Bank of India UK when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Notwithstanding that I am a contractor (in the Oil & Gas industry) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do State Bank of India UK even grant mortgages to contactors ?
The content set out above is in relation to properties in England and Wales.
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