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
6 July 2023
Mortgage Protection
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Enter your details to talk through your options and find the right solution:
Where to start?
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.
How we can help with First Time Buyer Mortgages?
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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"Had a great experience with Tom!! It was my first time getting a mortgage and he made the process so easy! Would highly recommend"
James, Cornwall
"I wasn’t sure I would be able to get a mortgage, however 1 phone call with Tom and it was all sorted. Fast, efficient service with an even better outcome."
Arron, Plymouth
"Tom made the process of our first mortgage so easy, nothing was too much trouble for him. Thoroughly recommend him to anyone!"
Emily, Somerset
