How to get a Self-Employed Mortgage
Being self-employed can be challenging when it comes to applying for a mortgage. We understand this and are here to help you through the process, regardless of circumstances.
What does ‘self-employed’ mean?
There are a number of factors to consider when taking on a mortgage when you’re self-employed.
From the point of view of a mortgage application, ‘self-employed’ means sole traders and directors of limited companies. These cases are often regarded as too complex for some lenders.
We specialise in providing solutions for business owners even with irregular income payments, and for those needing a self-employed mortgage without accounts.
If you run a business, or you are a contractor, you will have a set of figures documenting your income – either in the form of accounts submitted to HMRC or Companies House, or records of your income and outgoings.
We work with a variety of lenders who have different lending criteria, so can tailor your circumstances and requirements accordingly.
For example, if you have increased your profits in the last year of trading, we can approach lenders who will use that information as a basis of a mortgage offer.
Or if it is more favourable to take an average of several years of your trading history, we can use this as a basis of the application.
Maybe you have some credit issues, or some periods of time when you haven’t worked.
Whatever your circumstances, we can help, and represent your application to the most suitable lender for you.
Talk to us today and we can discuss your specific needs and provide you with expert, tailored advice.
Frequently Asked Questions
Need a lower monthly payment plan?
If you have a self-employed mortgage already but think you are paying too much, talk to us about getting a better rate. There are lots of variables when it comes to self-employed mortgages, and working with a broker like us gives you the advantage of access to a wide variety of specialist lenders. It may be that we can find you a more suitable mortgage with a lower rate, so talk to us today to find out more.
Not sure whether you qualify?
You might be thinking that you can’t get a mortgage if you work for yourself, but speak to us first to find out. Often we can help people who have difficulty elsewhere, as we have years of experience and go that extra mile to help our clients. It can be easier than you may imagine, especially if you have a regular income and can show proof of earnings. We’re here to help – call us to today for personal advice.
Looking to move house?
If you’re thinking about moving home and not sure if you can get a mortgage, talk to us now and we can work with you to see if we can help. Better to find out before you start looking around, so you can put your mortgage offer in place before you find your dream home!
We can help you to understand more about how a self-employed mortgage works and if it’s right for you – contact us today to arrange an appointment!
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
