Bank of Scotland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Scotland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Scotland 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 75k contractor mortgage with a lender such as Bank of Scotland?
Do any sections of the CML Lender's Handbook set out the requirements for Bank of Scotland when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Bank of Scotland) adopt to class someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
I am finding the process of trying to obtain a contractor mortgage very frustrating. I can't seem to find any 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.
Could a contractor mortgage with Bank of Scotland be a better option for me than a traditional Bank of Scotland mortgage ?
The content set out above is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Scotland