Royal Bank of Scotland -Natwest One Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Royal Bank of Scotland -Natwest One offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Royal Bank of Scotland -Natwest One 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 mortgage adviser concerning my remortgage because I have just won a fixed term contract of 3 years (I am a post doc researcher, it is the nature of my work that we have fixed term contracts). My contract started date this year. I am looking for a three year fixed rate mortgage. Property worth £325k, I want to borrow £150,000. I bought the property three years ago for £220,500 and I currently owe 165k to Royal Bank of Scotland -Natwest One
Myself and my fiance are currently about to apply for our first mortgage with Royal Bank of Scotland -Natwest One. 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 salaryfor us to put forward. I was hoping to get some advice on how my contractor status will affect us getting an application approved please?
Notwithstanding that I am a contractor (HR consultant) do I really need to have three years of accounts in order to apply for a mortgage with lend? Do Royal Bank of Scotland -Natwest One even grant mortgages to contactors ?
My research online indicates that mortgage lenders generally view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as an IT contractor, this evidence is unlikely to give an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Royal Bank of Scotland -Natwest One to offer funds on the more realistic basis of my contracted rate.
Could a contractor mortgage with Royal Bank of Scotland -Natwest One be a better option for me than a traditional Royal Bank of Scotland -Natwest One mortgage ?
The above information covers to properties in England and Wales.
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