There is no denying being self-employed can be complicated at times. It can make searching for mortgages difficult as every bank and building society is different and not one self-employed application is the same. We have a personal approach to this so you can relax knowing you are in safe hands we will explore your mortgage options to find you the most suitable options.
Depending on how you have set up your business – as a sole trader, limited company or partnership – will depend on how your income will be assessed. Some important things to know when considering a mortgage when you are self-employed:
- Not all mortgage providers are the same.
- If set up as a limited company, some will use different elements of your income to assess your affordability from your company accounts.
- As little as one year’s self-employment can be considered.
- Some mortgage providers can use the latest years self-employment figures for the affordability assessments to determine how much they would considering lending.
- CIS workers and contract workers can be view as self-employed with some mortgage providers but as employed by others – knowledge of the mortgage market is essential.
These are just a few important factors that can make searching for a mortgage a little more complicated. The extensive knowledge that we have of the mortgage market with self-employment mortgage criteria can help find you the right mortgage provider for your needs.
