Mortgage
Guide
Mortgages
for the Self-Employed
Where do you stand?
Traditionally it's been more difficult for the self employed to get mortgages.
Mortgage lenders preferred to see the regular income guaranteed by employment. However this has changed in recent years.
While there are mortgage lenders who specialise in the self employed, most lenders will now be much more likely to deal with the self employed
If you've been involved in a particular industry for years this will be an advantage.
Lenders are interested in seeing how employable you are. To give an extreme example; a plumber is probably in a better position than a successful film director because s/he can show regular, weekly work. However, the film director's few months of work here and there may look patchier.
Mortgage
lenders don't always appreciate the ins and outs of different types of business.
But some will so shop around.
If you're new to your area of business this may prove a problem till you can demonstrate regular income.
If you're on a "short term contract" it will help if you can show you have a regular contract with the same "employer" ie which has been renewed. The longer it's lasted the better. Others may want to see a pattern of renewals over a one or even a two-year period.
To read more on this subject please see the list below or your mortgage guide or your home buying guide
Read On
Self Employed: Where
do you stand?
How much
can the self employed borrow?
How do the self
employed prove their income?
Tax: Hoist
with your own petard?
Which type of
mortgage
Self
Certification Mortgages
How to apply
Read On / Mortgage Guide
How
to Choose your Mortgage
Types of Mortgage
Remortgages
Where to Find Your Mortgage
Getting
a Mortgage in Principle
Read On
Guide to Home Buying in the UK
UK Home and Mortgage Insurance
Important note about your credit rating
Many websites don't make it clear that filling in their mortgage enquiry form means you might be credit checked.
This can put you at risk.
UK Mortgage lenders may assume an enquiry you have aleady made to another lender means you were turned down - and not that you are in fact carefully shopping around and rejecting the bad deals.
The best way around this significant problem is to ask an independent mortgage adviser to make anonymous enquiries for you.
Without risking your credit score an adviser can find you the best available mortgage deal. They will also know how likely you are to be accepted by the lender if you decide to make a formal application.
If you would like a recommended adviser to check out the best deals for you, anonymously, simply fill in the quick form below.
" Hmm..." You might think; "Won't I be hounded by a salesman hungry for my business? "
This is the most common question we hear from our users.
The answer is no you won't.
Firstly your enquiry is only passed to ONE person on a carefully vetted list of independent advisers.
Secondly,
these mortgage advisers are professionals. Even
when the market is slow they are busy
people. There many people who need to move homes, or get
a remortgage and are looking for advice all the time.
Regardless of the state of the property market, life goes
on.
So the advisers don't have time to hassle people. It just
doesn't work like that. No one is gong to be forced into
taking out a mortgage unless they really need one.
The advisers are very used to talking with people, perhaps like yourself, who are only "dipping their toes" into the water.
Many people just want an initial quick chat and if they feel comfortable will ask the advisor to contact them again later - often in several weeks or months. As a professional, the adviser will simply diarise this and call back at the appropriate time. There is no obligation at all.
(In the unlikely event that you ever feel at all "hassled" by someone on our list please let us know immediately. We have never heard of this. But if it happened we would definitely want to know).
Read on about Mortages and being Self-Employed
or
See full contents of How to get a Mortgage
or
See contents of Home Buyers Guide
or
I've read enough for now and want to get a free Quick Mortgage Quote
Mortgages for the Self-Employed
Where
do you stand?
How
much can the self employed borrow?
How
do the self employed prove their income?
Tax: Hoist
with your own petard?
Which type of
mortgage
Self
Certification Mortgages
How to apply
How to get a Mortgage
The full guide on how to get a mortgage with special tips
I'm
buying my first mortgage -
shortcut
I've
got a bad credit history -
shortcut
Mortgage
Basics
How
to Choose your Mortgage
Types of Mortgage
Where to Find Your Mortgage
Getting a Mortgage in Principle
Fill out our quick form to speak to an FSA qualified mortgage adviser
£6,000 and £15,000
on your Mortgage
how much you could save
Read On / Mortgage Basics
What is a mortgage? A basic summary of the rules The choices you need to makeHow much can you borrow?
How do you prove your income?
How long are mortgages usually for?
What will happen to interest rates?



