Bank of Scotland Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Bank of Scotland offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Bank of Scotland and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's a minefield. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Bank of Scotland in his name using our joint deposit and for me to be added at a later date?
What criteria does a mortgage lender (for example Bank of Scotland) use to categorise someone as a contractor or self-employed. For instance does one have to own more than a particular percentage of a business?
As contractor looking for a mortgage with Bank of Scotland 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.
Notwithstanding that I am a contractor (IT consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Bank of Scotland even grant mortgages to contactors ?
Could a contractor mortgage with Bank of Scotland be a better option for me than a standard Bank of Scotland mortgage ?
The content set out above covers to properties in England and Wales.
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