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.
I am looking for some mortgage advice. I am currently on a grad scheme, One year into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around June time. My query is, will RBS- First Active even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I have been dealing with a broker concerning my remortgage because I am on a fixed term contract of four years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date this year. I am looking for a 5 year fixed rate deal. Property worth 165K, I want to borrow 132K. I bought the property 3 years ago for £157,000 and I currently owe 115k to RBS- First Active
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.
Even though I am a contractor (freelance journalist) is it necessary for me to supply at least six months of both business and personal bank statements as part of the due diligence process for RBS- First Active.I am not convinced that my broker is correct.
Is it correct that RBS- First Active quote higher interest rates in respect of mortgages for contractors?
The above information covers to properties in England and Wales.
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