Mortgages for the self employed


One of the misconceptions about the mortgage market is that it is now very difficult for self-employed people to get a self employed mortgage loan in order to buy a home.

In theory, self-employed borrowers have access to exactly the same range of mortgage products as everyone else. The key is that you will have to be able to prove you have the income necessary to make the repayments on the loan for which you are applying.

Typically, that will require you to have at least two years’ worth of company accounts, SA302s or tax returns – to show to lenders (though some may request three years’ worth).

If you are self employed as a Contractor you may also have to provide evidence of work you have already lined up for the future, in order to show that your current levels of income can be maintained.


YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.

 

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