Taking the stress out of securing a self-employed mortgage
Whether you are a Company Director, LLP Partner, Sole trader or Contractor, getting a mortgage when you are self-employed can be a challenge, especially if you haven’t been in business for long. Without a contract of employment or regular payslips, how can you prove to lenders that you earn what you say you earn and, more importantly, will continue to do so?
Don’t panic! As the number of people who are self-employed grows, so too does the requirement for lenders to be more understanding and sympathetic. With a decent deposit, plenty of planning and a specialist broker to assist, you’ll have those keys in your hand in no time.
Ultimately, every lender will assess differently and each lender has specific criteria so while one lender might decline, others will happily accept, we just have to find the right one. It’s therefore important to speak to a broker that understands self-employed mortgages, puts in the time to understand your unique circumstances and who is willing to shop around to find you a great mortgage deal.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £549.