Mortgage Solutions For the Self Employed
- With a self certification mortgage, instead of providing documentary evidence of your income like payslips or audited accounts, you simply state your income on the application form and sign a declaration that this is correct, lenders will not ask for any proof.
This mortgage broker has access to all the self cert mortgage products available in the UK and will advise on the best products for your individual circumstances. Simply complete the form on their website for a free no obligation quote.
Non Status Mortgage Solutions
- Specialist selfcert mortgage brokerage. They'll search the major banks and finance houses in the UK and come up with a deal that's right for you. They are not tied to any particular bank or lender and can tell you what is available regardless of your employment situation. They are experts at helping the self employed, contractors, freelancers and people who receive a considerable portion of their income through commission or bonuses find non status and self certification mortgages with no proof of income required.
Simply complete their online enquiry form and they'll get back to you with the options available.
ABC Self Employed Mortgages - The self employed have historically been treated differently by traditional mortgage lenders and have been penalised for their status in the past, either charged higher rates or rejected entirely. But with over 4 million self employed people in the UK, specialist lenders have moved into this market, realising that many self employed people make ideal borrowers.
One thing is for sure, it's harder to get a mortgage if you are self employed, particularly when compared to a decade ago. The days of self certifying your income have long gone. Under this scheme borrowers declared what their income is on the application form without needing to provide proof. It became apparent self certification was being abused by some and the Financial Conduct Authority (FCA) consigned it to oblivion back in 2009.
This independent mortgage broker specialises in helping the self employed find the best mortgage deals via specialist lenders who acquire new business through brokers. Some lenders only need one year of accounts or work from your latest figures. It's useful to get hold of your SA302's - a form the HMRC can issue which confirms the amount of income tax paid during a given tax year. Simply complete their enquiry form for a free no obligation quote.
Birmingham Midshires - Birmingham Midshires is part of the Bank of Scotland group. Thousands of self-employed people in the UK find it difficult to provide necessary proof of income, and thousands of other workers in the UK receive bonuses and commission and experience similar problems with many lenders. This lender aims to help these individuals.
Dudley Building Society - Specialist lender catering for self employed clients including those with 1 year's accounts. With its self-e range of mortgages, you can borrow from £25,000 up to a maximum of £500,000 with a maximum 90% LTV. They take on new business via introducers such as brokers and intermediaries.
Whether purchasing or remortgaging, the self employed are routinely turned away by high street lenders, but this lender offers a range of products designed specifically with the self employed and contractors in mind. In terms of assessing affordability they use the net profit figure from the most recent finalised accounts together with a projection for the current financial year.
This lender feels the self employed provide a valuable service to the economy of the country and deserve to be given the opportunity of home ownership.
Self Employed Mortgages - Provides specialist self employed mortgage advice including product recommendations for company directors, sole traders and contract workers. There are an estimated 4.5 million self-employed people in the UK, many of which will experience difficulty getting a mortgage due to restrictions on lending to borrowers who are not in full-time employment. Lenders imposed much tighter lending controls following the credit crunch which left many self employed borrowers by the wayside.
Things have improved in recent times and this broker has direct relationships with self employed friendly lenders who make responsible lending decisions based on affordability without penalising those people who fall outside what is regarded as normal.