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 a self employed contractor. Mortgage options are being looked at but its tricky. I have considered is whether I could get a letter from my company clarifying that I will be transferred onto a permanent contract before the end of my set term? Would this assist my cause when applying for a mortgage with lend
What criteria does a mortgage lender (for example Scottish Widows) use to categorise a borrower 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.
How can I make myself more attractive to a lender such as Scottish Widows when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
As a contractor (freelance journalist) do I really need to supply at least six months of both business and personal bank statements as part of the due diligence process for Scottish Widows.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 Scottish Widows