RBS - Direct Line Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether RBS - Direct Line offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about RBS - Direct Line and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am an IT contractor looking to buy a home in Nottingham. My next step is to secure a mortgage ideally with RBS - Direct Line. Am I best advised to contact RBS - Direct Line directly or seek the help of a contractor specialist mortgage broker who is used to dealing with contractors and RBS - Direct Line.
Do any sections of the CML Lender's Handbook set out the requirements for RBS - Direct Line when it comes to contractor mortgages or self-employed mortgages.
What criteria does a mortgage lender (for example RBS - Direct Line) use to class someone 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 looking for a contractor mortgage extremely frustrating. I can't seem to find any 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.
I am lead to believe that mortgage lenders in the main view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a media contractor, this evidence is unlikely to reflect an accurate picture of my income potential. Will a contractor-focused IFAs utilise bespoke underwriting with lenders such as RBS - Direct Line.
The above information covers to properties in England and Wales.
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