Self Employed Mortgage Advice
Self Employed Mortgage Advice in Durham
It can understandably seem unfair that employed applicants have to jump through far fewer hoops than self-employed applicants when buying or remortgaging a home. However, mortgage lenders use their own scoring cards based on historical risk hence the need for self-employed mortgage advice.
Therefore, seeking self-employed mortgage advice from an experienced broker like us will prove invaluable if you are a business owner looking to buy a new/your first property or remortgage.
Rest assured, we have lots of experience obtaining mortgages for our self-employed clients. We work with a large panel of lenders and have in-depth knowledge of their lending stance.
Self Employed Mortgage Advice Scenarios:
- Are you a company owner, director, sole trader or partner and want mortgage advice?
- Have you been turned away by your bank?
- Have you got a fluctuating net profit?
- Only been trading for one year?
- Bank won’t lend you enough?
- Are you paid a combination of salary and dividends, or leave your net profit in your business?
- Self-employed and got an unusual situation?
- Are you self-employed and need help getting a mortgage?
Self-employed customers often struggle to get the ball rolling when it comes to mortgage deals. Without an experienced Mortgage Broker, like us on your side, it can sometimes prove to be difficult!
Self Employed Customers & Bank Mortgage Advice
Almost all high street mortgage lenders use in-house credit scoring for mortgages, based on their own experience of mortgage repayment statistics and repossession information – individual cases that do not fit their strict conditions are simply not investigated, to save money.
Most high street banks have very strict criteria and must-see increasing net profit with a minimum of 3 years accounts, or some take an average over 3 years.
Lending criteria vary greatly between mortgage lenders for self-employed mortgages; we place your mortgage application with the most suitable lender – we aim to be right the first time!
We work closely with owners of limited companies, sole traders, partners that receive a salary, dividends or a mixture of the two. We’re usually able to help them with their mortgages.
Unlike a lot of other Mortgage Brokers, we’re not tied to Estate Agents so we work for solely you, with your interests at heart.
Often, clients who call have had difficulty one way or another with their bank or other high street mortgage lender. This can be down to many reasons:
- Bank won’t lend enough
- Failed banks criteria
- Credit score
- Fluctuating net profit
- Pay structure
- Personal situation
- Read more here …
It is important that you do NOT keep trying lots of lenders as this has a negative impact on your credit score and may well harm your chances of getting any mortgage.
Why should I use a Mortgage Broker?
- We work for you! We are not linked to Estate Agents so will be open and honest with you.
- It’s our job to make you feel relaxed and comfortable right from your initial enquiry to getting your keys – We pride ourselves on 5-star service!
- See our genuine customer Reviews at Reviews.co.uk.
- Unlike your bank, we search 1000’s of first-time buyer mortgages to find the most suitable one for you.
Quick Links to Our Mortgage Broker Services
- First Time Buyer Mortgage Advice in Durham
- Home Mover Mortgage Advice in Durham
- Remortgage Advice
- Buy to Let Mortgage Advice in Durham
- Right to Buy Mortgage Advice in Durham
- Self Employed Mortgages
- Specialist Mortgage Advice in Durham