Royal Bank of Scotland Contractor Mortgages - Help and FAQs

I am seeking some mortgage advice. I am currently on a grad scheme, 12 months into a three year contract. the chances of me being moved onto an employed basis are slim. My question is, will Royal Bank of Scotland even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?

I’m in a bit of an onerous situation in as much as I and my partner are both self-employed (contractors) without any great accounts to show, although things are on the up I hope for this to change shortly. Basically my question for you is how hard would it be to get a 85k contractor mortgage with a lender such as Royal Bank of Scotland?

I am finding the process of looking for a contractor mortgage very frustrating. I can't seem to find any lenders who really understand my situation and the challenges faced being a contractor. Are there any mortgage underwriters who apply a common sense to ensure getting a contractor mortgage is as straightforward as possible.

Is it true that as contractor I would require a significant deposit up to as much as 50 per cent to qualify for a mortgage with Royal Bank of Scotland.

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 engineering 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 Royal Bank of Scotland to offer funds on the more realistic basis of my contracted rate.