Self Employed Mortgages
It’s often a misconception that it’s hard to get a mortgage if you’re self employed. A large percentage of the clients we deal with on a daily basis are self employed. If you have the verified income to support the level of borrowing that you need then it should be no more difficult than if you’re an employed person. Lenders will always require evidence to support your income. This can normally be done in 2 ways. Either by providing copies of your SA302 documents that can be obtained from HMRC or via your accountant. Or we can usually use an accountants reference.
With self employed mortgages we can consider the following:
- Minimum 1 years trading accounts
- Lending based on latest years finalised accounts
- A company showing a decline in profits
- Up to 6x salary with specialist lenders