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 am seeking some mortgage advice. I am currently on a grad scheme, 18 months into a two contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my question is, will Bank of Scotland even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
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 125k contractor mortgage with a lender such as Bank of Scotland?
What criteria does a mortgage lender (for example Bank of Scotland) use to categorise someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
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. In particular I have my eye on a mortgage deal with Bank of Scotland
I don't know whether Bank of Scotland are in the business of issuing contractor mortgages but in the event that they do how does a Bank of Scotland contractor mortgage differ from a standard home loan?
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Scotland