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Can I Get a Mortgage if I’m Self-Employed?

How is a Self-Employed Mortgage Different to a Standard Mortgage?

How Do I Get a Self-Employed Mortgage?

How Can Friends Capital Help?

Self-Employed Mortgage

If you have more than a 20% share of a business, from which you get your main income, you will be considered self employed by mortgage lenders You could be a sole trader, a partner or director, or a contractor who has set up a limited company.

As a general rule, you will need provide proof of your income for the past two complete tax years. This poses a challenge for many people who are self-employed and are looking for a mortgage. But Friends Capital can make the process easier. 

We will review your personal circumstances and then search the entire market to ensure you get the best mortgage deal possible. We will then deal with all the paperwork, submit your mortgage application, liaise with your mortgage lender and solicitor, and ensure that your mortgage application is completed as quickly as possible. We can:  

  • Save you money on your mortgage deal 
  • Offer a free consultation 
  • Offer unbiased financial advice 
  • Save you time in your mortgage application 
  • Give you a dedicated account manager who is available to you through the process 

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Can I Get a Mortgage If I’m Self-Employed?

The simple answer is yes, however there are certain challenges you will face when you apply for a self-employed mortgage. Lenders will view you as self-employed if you own more than 20% to 25% of a business, from which you earn your main income. You could be a sole trader, company director, or contractor. To get a mortgage you will need to prove you have a reliable income. There are plenty of ways to prove to a mortgage lender that you have a reliable income, it’s usually just a case of jumping through a few extra hoops. 

How is a Self-Employed Mortgage Different to a Standard Mortgage?

Proving your income to get a mortgage can be difficult if you are self employed. You may not have payslips to prove your income, therefore you will need to provide certain documents to help lenders be confident that you can afford to borrow the amount you need.

How Do I Get a Self-Employed Mortgage?

If you’re self-employed and looking for a mortgage you will need to pass certain eligibility criteria’s, including the lender’s affordability tests. income. Self-employed people are required to provide far more evidence of their income than other borrowers. Your own bank, that you may use for your personal or business accounts, may not lend to self-employed individuals. Alternatively, they may need a minimum number of years trading in order to accept a self-employed mortgage application. 

This is where a mortgage advisor can help. 

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How Can Friends Capital Help?

Friends Capital have pre-existing relationships with lenders that welcome self employed applicants. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that are most appropriate to your personal circumstance. We can:

  • Find you a lender willing to lend to self employed individuals
  • Find you a deal appropriate to your personal circumstance
  • Offer unbiased financial advice
  • Give advice on what mortgage lenders will require, including proof of earnings, tax returns and overviews etc
  • Give you a no obligation mortgage quote
  • Deal with all the paper work, liaise with the lenders and solicitors. We will also make sure the application goes through as quickly as possible

Two Steps to Contacting Friends Capital 

Step 1 

Either call us, email us , book an appointment online or request a call back below.

Step 2 

One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation. 

When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available. 

If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’. 

If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf. 

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We aim to get the lowest mortgage rates on the market

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