Royal Bank of Scotland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Royal Bank of Scotland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Royal 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 Oil & Gas contractor looking to buy a home in London. My next step is to secure a mortgage preferably from Royal Bank of Scotland. Am I best advised to contact Royal Bank of Scotland directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and Royal Bank of Scotland.
As contractor looking for a mortgage with Royal Bank of Scotland will they want to assess my experience, my history of contracting, the length of my current contract and the likelihood of it being renewed? If so I will start to get the paperwork together.
How can I make myself more attractive to a lender such as Royal Bank of Scotland when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
I am well aware that the days of self-certification contractor mortgages are long gone. 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 Royal Bank of Scotland
I am lead to believe that mortgage lenders mostly consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a broker specialising in contractor mortgages utilise bespoke underwriting with lenders such as Royal Bank of Scotland.
The above information is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Royal Bank of Scotland