RBS - Virgin One Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether RBS - Virgin One offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about RBS - Virgin One and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with an IFA regarding my remortgage because I am on a fixed term contract of four years (a finacial contractor). My contract begin date this year. I am seeking a five year fixed rate mortgage. Property worth £200,000, I want to borrow £150,000. I bought the property four years ago for £220,500 and I currently owe 120K to RBS - Virgin One
What criteria does a mortgage lender (for example RBS - Virgin One) adopt to class a borrower as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
How can I make myself more attractive to a lender such as RBS - Virgin One when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
Even though I am a contractor (freelance journalist) is it necessary for me to produce at least six months of both business and personal bank statements as part of the due diligence process for RBS - Virgin One.I am not convinced that my broker is correct.
Could a contractor mortgage with RBS - Virgin One be a better option for me than a standard RBS - Virgin One mortgage ?
The content set out above is in relation to properties in England and Wales.
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