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 have been dealing with a broker regarding my remortgage because I have just won a fixed term contract of two years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract begin date earlier this year. I am looking for a 5 year fixed rate mortgage. Property value 165K, I want to borrow £150,000. I purchased the property 3 years ago for 138K and I currently owe 120K to RBS - Direct Line
Does 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) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
Myself and my fiance are currently about to apply for our first mortgage with RBS - Direct Line. However, after studying, I've just this month started working as a contractor, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a good incomefor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
I have no idea if RBS - Direct Line grant contractor mortgages but if they do how does a RBS - Direct Line contractor mortgage differ from a traditional mortgage?
The above information covers to properties in England and Wales.
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