
Getting a Mortgage When Self-Employed
If you’re self-employed and dreaming of buying a home, you might be wondering if getting a mortgage is even possible. With the increasing number of
We would start by having an initial discussion with you to fully establish your current circumstances and get an idea of what your goals are. This will involve a review of your:
1. Deposit
This is an important part of the process, the amount of deposit you have will have an impact not just on how much you can borrow but also what mortgage interest rates will be available to you.
2. Income
A mortgage lender is going to base the amount they will lend you on a few different factors, the main one being how much money you earn. Typically, you would need to provide three months’ payslips or two-three years income evidence if self-employed. Each lender will offer a different amount of lending so it is our job to find you the lender that will lend the amount you require.
3. Outgoings
Another important thing to consider is any monthly outgoings you have. The type of things that will be discussed are credit card and loan debts, car finance, household bills, childcare costs, and general living costs. It is a good idea to get your latest three months bank statements so we can go through them together and get an idea of monthly spending.
4. Credit File
Finally, we will discuss your credit file to establish if there are any factors that may affect your application. If there are any negative factors on there, we will be able to guide you on the most appropriate ways to get these improved.
We are not just here to help you with the mortgage, we will be with you through the full homebuying process making it as clear and easy as possible for you.
Once we have fully assessed your circumstances, we can complete our research finding out the maximum you can borrow, the type of interest rate you might expect and an idea of monthly costs.
With access to the whole of market we can compare lenders and find who will offer you the most suitable mortgage deal based on your personal circumstances.
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James, Cornwall
Arron, Plymouth
Emily, Somerset
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Complete Mortgage Advice Ltd is an Appointed Representative of The Right Mortgage Ltd which is authorised and regulated by the Financial Conduct Authority.
Complete Mortgage Advice Ltd is registered in England and Wales with company number 13403228. Registered address: 41 Montrose Way, Plymouth, PL5 3FP. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
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