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 an engineering contractor, 12 months into a three year contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My query is, will Scottish Widows even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with a mortgage adviser concerning my remortgage because I am on a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date this year. I am looking for a 5 year fixed rate mortgage. Property value £200,000, I want to borrow £150,000. I purchased the property three years ago for 138K and I currently owe 165k to Scottish Widows
I am Oil & Gas contractor looking to buy a home in London. My next step is to secure a mortgage preferably with Scottish Widows. Would it be wise to contact Scottish Widows directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and Scottish Widows.
What criteria does a mortgage lender (for example Scottish Widows) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
Could a contractor mortgage with Scottish Widows be a better option for me than a traditional Scottish Widows mortgage ?
The content set out above is in relation to properties in England and Wales.
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