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, One year into a 2 contract. the chances of me being moved onto a permanent contract are slim. So I suppose my query is, will Bank of Scotland even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Bank of Scotland in his name using our joint deposit and for me to be added at a later date?
What criteria does a mortgage lender (for example Bank of Scotland) 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 trying to obtain a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.
As a contractor (HR consultant) 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 Bank of Scotland.I am not convinced that my broker is correct.
The above information covers to properties in England and Wales.
Find out how to order your redemption statement request from Bank of Scotland