A good mortgage deal when you are self-employed can be hard work to secure (and when you are self-employed you know the true meaning of hard work!). Active Mortgages will do that legwork for you, whilst you focus on running your own business.
A good mortgage deal when you are self-employed can be hard work to secure (and when you are self-employed you know the true meaning of hard work!). Active Mortgages will do that legwork for you, whilst you focus on running your own business.
Entrepreneurs and self-employed business owners are what keep this country running and our economy growing. Active Mortgages do not want you to be distracted from running your business: stressing and struggling to secure a mortgage deal that reflects the work you do and the income you generate.
Our preparation tips for successfully applying for a mortgage if you are self-employed include:
Prepare your certified earning reports for as far back as possible, at least two years but some lenders may ask for 5 years. So it’s best to have as many as you can. You need to show that your business is profitable.
HMRC tax reports – for at least the last two years
Contracts – you need to prove that your earnings will continue. Remember you are proving to a lender that your business is secure, and they can be confident in your ability to pay back the mortgage. This could potentially be more important if your business has had a slower year recently.
Use a chartered accountant to sign off your accounts; a mortgage lender will look more favourably if you do.
Check on your credit score and look at improving it before the application. This can be done in a number of ways: ensuring you are paying off as much credit card debt as possible; you are on the electoral roll; and paying your bills on time.
There are no special self-employed mortgage rates available from lenders, instead it is about being able to obtain a mortgage deal, without the security of an employer confirming your income.
Use our mortgage calculator today to see how much you could borrow and what type of mortgage rate you might be able to get.
There are more steps involved in securing a mortgage when you are self-employed, but it is not impossible: a specialist self-employed mortgage adviser can take the task on for you.
Are you wondering how to get a mortgage when you are self-employed? The answer is simple: ask Active Mortgages. Our expert mortgage advisers help business owners like you every day, to find the mortgage deal that you deserve.
Self-employed mortgage lending is our speciality, and we have experts that focus exclusively on finding top notch mortgages for our clients. So, you know you are in safe hands.
Our mortgage range
Our brochure will help you arrange finances without being distracted from your life or business.
This mortgage guide for self-employed individuals is available on Paperback, and you can grab it here for FREE.
(The audio and Kindle are not free)
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Trust our team to find the perfect mortgage for your budget and lifestyle.
Trust our team to find the perfect mortgage for your budget and lifestyle.
Book a call with one of our team to talk about your requirements.
