RBS- First Active Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether RBS- First Active offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about RBS- First Active and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
What is the situation with contractor mortgages and RBS- First Active? I am a contractor but my hubby has a permanent job. Will RBS- First Active take my salary if we make an application in both our names?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and submitted. Received communication from the lender to say they can't move ahead with process unless my current manager issues a letter saying my contract will definitely get extended and when new end date will be. Any advice?
I am finding the process of looking for a contractor mortgage very frustrating. There doesn't seem to be many 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.
If I reveal to RBS- First Active that I’m contracting, will they charge me a higher rate on my mortgage?
My research online suggests that mortgage lenders generally view contractors as high risk applicants; so demand 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages remove the hassle by maximising use of the expertise and contacts they have built up.
The above information is in relation to properties in England and Wales.
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