RBS - Direct Line Contractor Mortgages - Help and FAQs

What criteria does a mortgage lender (for example RBS - Direct Line) 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 business?

I am finding the process of trying to obtain a contractor mortgage very frustrating. There doesn't seem to be many lenders who really understand my situation and the peculiarities of being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.

How can I make myself more attractive to a lender such as RBS - Direct Line when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.

I'm a finacial contractor, based on my accounts, my average net profit and director's salary is £55,731. I am looking to purchase a house in loc. What are the chances of being able to borrow 195k by way of a contractor mortgage with Englefield Green

My research online indicates that banks and building societies generally consider contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an engineering contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker remove the hassle by making use of the expertise and contacts they have built up.