Scottish Widows Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Scottish Widows offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Scottish Widows 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 a media contractor, One year into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around May time. So I suppose my question is, will Scottish Widows even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
Do any sections of the CML Lender's Handbook stipulate the requirements for Scottish Widows when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example Scottish Widows) adopt to class someone as a contractor or self-employed. For instance does one have to own over a particular percentage of a business?
As contractor looking for a mortgage with Scottish Widows 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.
My existing mortgage lender had given us consent to let. My situation changed last year, I started my own company and started working as a contractor. Are you able to recommend a lender who specialises in contractor mortgages?
The above information covers to properties in England and Wales.
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