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.
What is the situation with contractor mortgages and RBS- First Active? I am a contractor but my partner has a permanent job. Will RBS- First Active take my salary if we make a joint application?
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.
Going through the contractor mortgage process to move to a buy to let with a new lender. All paperwork completed and sent. Received a call from the lender to say they can't move ahead with application unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any thoughts?
Myself and my husband are currently about to apply for a mortgage with RBS- First Active. Next month I commence working as a contractor. My husband is full time employed and so does have a healthy salary. Is it going to be a case of just getting a non-contractor mortgage with RBS- First Active in my husband’s sole name?
I am lead to believe that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as RBS- First Active to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
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