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.
Do any sections of the CML Lender's Handbook stipulate the requirements for RBS- First Active when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example RBS- First Active) use to categorise a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
As contractor looking for a mortgage with RBS- First Active 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.
As a contractor (IT consultant) is it necessary for me to produce at least six months of both business and personal bank statements as part of the vetting process for RBS- First Active.I am not convinced that my broker is correct.
I don't know if RBS- First Active are in the business of issuing contractor mortgages but if they do how does a RBS- First Active contractor mortgage differ from a traditional home loan?
The content set out above covers to properties in England and Wales.
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