Self Employed Mortgages!
Let’s Find The Right Mortgage For You
With 4.8 million self-employed workers in the UK, now, more than ever, workers are choosing to shun the constraints of a 9 to 5 job and instead, seek the freedom of running their own business.
Whilst there are many benefits to being self-employed, some people are still concerned about what this could mean for getting a mortgage.
Amber Mortgage have a team of dedicated self-employed mortgage brokers who can help you find the best mortgage with no hassle.
What are Self Employed mortgages?
Technically, a self-employed mortgage is no different from a standard mortgage. The main difference is in how the mortgage providers asses the self-employed individual applying.
From the perspective of the mortgage provider self-employed individuals are seen as riskier borrowers and historically providers have been less likely to lend to them. This is primarily because conventional employees are seen to have a steady monthly income, whereas, self-employed income can potential be more unstable and less consistent.
That being said, there are now more lenders who are willing to loan to Self Employed applicants. You may now even be considered with 1 year of trading accounts.
What will I need to apply?
If you are looking to apply for a self employed mortgage, there are a number of documents you may be asked to provide, including: –
- 1-year of accounts at a minimum (average is 2 years)
- A minimum of 5% deposit
- Accounts verified by an accountant
- SA302s and tax forms
Amber Mortgage Solutions can help guide you through this process, so get in touch today and find the best mortgage for you. Call us today on 01702 619221 to discuss.
How We Work
Helping to tick all the right boxes for your new Self Employed Mortgage
- To start with please either call us or complete the above application form.
- One of our Self Emplyed mortgage consultants will be in touch with you to discuss your application.
- After we have your details, we will search the market for the best schemes to suit you.
- We will then talk you through the details of your mortgage.
- 100% Secure, Confidential and hassle free.
We’ll concentrate on helping you compare Self Employed mortgage rates with the following in mind:
- Fixed, tracker, discount and variable rate mortgages
- Repayment and interest only mortgages
- Free survey and cash back deals
- Early repayment charges
How to get a Self Employed Mortgage with Bad Credit?
Mortgages can be daunting at the best of times, and borrowers with limited experience may not be sure how to get a mortgage with bad credit which is also known as an Adverse Credit Mortgage. When looking online mortgage searches often return results for grade A credit scores and showing mortgages that you won’t probably qualify for.
Self Employed mortgages can be arranged for people with poor credit in the following situations:
- No credit history
- Low credit score
- Late payments
- Missed mortgage payments
- Debt management Schemes