There are nearly 5 million self-employed people on the UK, and they have to jump through many more hoops to get a mortgage than the employed. You can speak with a self-employed mortgage expert via this form. A good example of the self-employed being treated with more caution by lenders is the time period over which they have to prove their income. Most lenders want 2 or 3 years of trading accounts or tax summary documents, compared with the latest 3 months payslips for employed people.
There can also be complications if the income does not present a neat picture for the lender. For example, if the income for self-employed mortgage applicants is lower in recent years than previous years, lenders can restrict the amount they will lend or even decline an application altogether.
Smartr Finance are experts at presenting self-employed mortgage cases to lenders so they are viewed in the best possible light. They have access to High Street lenders, as well as lenders that are not easily accessible direct. Smartr Finance can be contacted here to make a self-employed mortgage enquiry.
We can access lenders who work on the latest years’ accounts only, so restrictions on lending and failed applications are avoided. Smartr Finance also have access to mortgages for the newly self-employed, where one year of trading is enough to obtain a mortgage.
Regardless of whether you’re a sole trader, Limited Company director, or in a partnership; Smartr Finance will work with your accountant to ensure that all of the necessary information is in place and ready in time for your mortgage application. They key thing is to make your enquiry early so Smartr Finance can start working on your case and tell you how much you can borrow.
Fill in the simple contact form and get your free self-employed mortgage quote.