Getting a Mortgage if you are self-employed
Are you self-employed? At Mortgage Style Ltd we can provide many solutions for you whether it’s using specialist self-employed lenders or just making use of lesser known criteria with the main high Street lenders, we can help.
We can ensure that the lender receives the relevant documents including accounts and tax returns which will make them feel more comfortable with your ability to meet your obligations for a self-employed mortgage.
There are now many lenders that are sympathetic to the needs of the self-employed, where previously it would have been hard to get a mortgage. Below are examples of scenarios that would now be acceptable:
- Decreasing profits
- Recently changed from Sole Trader to Ltd Co.
- Use net profit even if personal drawings are low
- Lend up to 5.5 x income
- Use income from more than 1 business
- Can use the latest years profit if necessary
The number of self-employed people in the UK has risen from 3.3 million in 2001 to 4.8 million in 2017. Mortgage Style Ltd recognise that everyone’s situations are different and we would recommend giving us a call. We understand the market fully and work in conjunction with a number of trusted and well respected lenders who specialise in providing mortgages to the self employed.
Mortgage broking isn’t just about finding the most competitive rate for you, it’s also about matching the lender to your particular circumstances and submitting the case in the best light to ensure your application is successful.
Our team of mortgage specialists have over 100 years of mortgage experience and have access to lots of exclusive deals which are not available on the High Street. It is this expertise that has given us the reputation for providing competitive solutions even for hard to place mortgages where other brokers have been unable to help. In fact many other mortgage brokers in Bristol and beyond come to us for help with their more difficult cases.
We also have considerable experience in the buy to let market and are the first port of call for property investors when looking to arrange financing.
Contact us on 01275 370360 or send us an enquiry and one of the team will respond.