The truth is, It could be difficult for anybody to get a mortgage if you haven’t set yourself up for success.
It doesn’t matter what your circumstances are. Whether you’re employed, whether you’re a self-employed contractor, sole trader, business owner, it could be difficult for you to get a mortgage.
But equally, it could be very, very easy.
Watch This Video or Read the Blog below and find out some of the best Tips which could help you on your mortgage journey.
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Is it difficult for you to get a self-employed mortgage?
It could be difficult for anybody to get a mortgage if you haven’t set yourself up for success. It doesn’t matter what your circumstances are. Whether you’re employed, whether you’re a self-employed contractor, sole trader, business owner, it could be difficult for you to get a mortgage. But equally, it could be very, very easy.
What I believe makes it easier for people to get a self-employed mortgage or to get a mortgage is to fit the majority of lenders. The more unique your circumstances, and the more niche, and the fewer years of accounts you have and the lower your credit score, the less deposit you have, the harder you’re potentially making it for you to get a mortgage.
I actually believe that getting a mortgage is a bit like a Sat Nav. If you walked out of your house today and you jumped in your car and you went for a drive, you’re going nowhere. You’ve not got a destination. If you walked out your house and you jump into your car and you open up your Sat Nav, and you put in a postcode, your car’s going to make a choice between the fastest route or the shortest route. This is exactly how you need to think about buying property, investing in property, moving home, even remortgaging to get a better deal or to home improve. Thinking like a Sat Nav means you know the mortgage that you want to achieve. You know the home you want to buy. It’s then a case of reverse engineering that process. That means looking at the income you need, making sure you’ve got the right deposit or the right level of equity, making sure that all your ducks in a row and your documentation is correct. You’re not living in your overdraft and that your credit report is the best it can ultimately be, and that the mortgage is going to be affordable.
Thinking about the finance first and planning ahead, I think is the best way that you can get financing in today’s mortgage market. If you want to learn more about how you can set yourself up for mortgage success, then go and watch the other videos that I’ve got on YouTube. Come and connect with me over on Facebook and any other social media channel. Or alternatively, go to active.mortgage and download a copy of the seven mistakes that business owners make, and entrepreneurs make when they think about getting property finance or a mortgage. Thanks very much. I really look forward to seeing you on the next one.
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