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Self Employed Mortgage Advice in Durham

It's free to speak with a mortgage advisor
7 days a week, 8am - 10pm

0191 303 9786 Speak to an Advisor - It's Free!
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Self Employed Mortgage Advice in Durham

Self-employed in Durham? Speak to a mortgage expert today and receive tailored guidance for your individual employment circumstances.

0191 303 9786

Advice for Self Employed Mortgages in Durham.

As a transparent and trustworthy mortgage broker in Durham, we understand the challenges faced by self employed applicants when applying for a mortgage.

Self-employed individuals often encounter difficulties in meeting mortgage lender criteria or providing proof of income, making the process more challenging compared to regular employed applicants.

While it would be ideal for everyone to have equal opportunities for obtaining a mortgage, it is understandable why mortgage lenders impose additional requirements on self employed individuals. Lenders need assurance that self employed applicants can consistently make their monthly mortgage payments.

  • Your income/salary.
  • Your previous years of accounts.
  • Bank statements.
  • Business operating costs and expenses.

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Self Employed Mortgage Advice in Durham

1000s of Self Employed Mortgage Products

Our mortgage advisors in Durham are committed to providing fast and friendly service, always ready to assess your case and find a suitable mortgage product tailored to self employed individuals in Durham.

Throughout the mortgage process, we will keep you well-informed and supported, offering clear and concise guidance. We understand the unique challenges faced by self-employed applicants and will leverage your income and years of accounts to support your application.

As a mortgage broker in Durham specialising in self employed mortgage advice, we have access to a wide range of competitive and niche mortgage products specifically designed for self employed applicants. Once we identify the best deal for you and you are satisfied with it, we will proceed with preparing your mortgage application.

Our mortgage advisors in Durham are available throughout the week, offering appointments from early morning until late evening, ensuring convenience for our customers. Book a free mortgage appointment with us, and we will assess how we can assist you.

How many years do you have to be self employed in Durham to be able to get a mortgage?

To apply for a mortgage in Durham, most lenders typically require self employed individuals to have a minimum of two years of self-employment history. However, there are some mortgage lenders who may accept one year of history.

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FAQ's From Self Employed Applicants

Do applicants of a self employed mortgage in Durham must pay higher rates?

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It’s important to note that self employed mortgage applicants in Durham are eligible for the same mortgage rates as employed applicants. The main difference lies in how mortgage lenders evaluate their income.

What qualifies as being self employed in Durham?

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If you own at least 20-25% of a business, mortgage lenders in Durham will consider you as self employed.

Why is it hard to get a self employed mortgage in Durham?

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Contrary to common belief, there are no specific requirements or additional barriers preventing self-employed individuals from applying for a mortgage in Durham.

I'm self employed in Durham, how can a mortgage broker help?

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The challenge in applying for a self employed mortgage in Durham lies in providing accurate proof of income and demonstrating consistent and reliable earnings. Mortgage lenders typically consider taxable income only.

Navigating the mortgage process can be complex, which is why working with a mortgage mortgage broker in Durham, can be beneficial. As an open and honest mortgage broker, we have assisted numerous self-employed individuals in securing mortgages in Durham, even in situations where they initially believed it would be unlikely.

Let us guide you through the process and help you obtain mortgage approval as a self-employed applicant in Durham.

What are other common self employed scenarios?

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We regularly work with a wide variety of self-employed mortgage customers, all of whom are in need of some expert, fast & friendly mortgage advice in Durham.

Below we have compiled a brief but helpful selection of scenarios that we have come across speaking to self employed mortgage applicants, throughout our time as a trusted mortgage broker in Durham & surrounding areas:

  • As a self-employed business owner, you have an income that is a combination of either salary, dividends or a directors’ loan.
  • Your company is going through quite a busy period and you need the help of a trusted mortgage advisor in Durham.
  • You allow a large portion of your net profit to sit within your company, rather than paying yourself a much larger income.
  • Your business has not been trading for the minimum of at least one year.
  • Despite having a pretty great credit score, for some reason you don’t match the banks’ strict lending criteria.
  • You are a the owner of the company, a director, a sole trader or you are the partner of a business, needing specialist self employed mortgage advice in Durham.
  • The bank is putting a limit on the amount you can borrow, which is not enough for what you are looking to do.
  • You do not have a steady net profit.

For the most part, banks are not always the best options to take if you are a self-employed mortgage applicant in Durham. The system these banks use will all be automated. This means that regardless of how long you’ve been their customer or been paying into your account, there’s not a whole lot you can do if you’re declined.

This is where you’ll truly reap the reward of bringing a mortgage broker in Durham on board, as we’ll be able to search thousands of deals and match you up with one that is suitable for what you are looking to achieve.

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Our Simple 4-Step Process

Free 30-Minute Mortgage Appointment

Step 1

Engage in a thorough discussion about your situation and mortgage objectives with a dedicated mortgage advisor in Durham.

During this appointment, your advisor will carefully review your tax year overview and tax calculations to determine your maximum affordability.

We Can Search 1000s of Mortgage Deals

Step 2

Our experienced team will meticulously search through a vast array of mortgage products to find the most suitable deal tailored to your specific circumstances.

Once we have identified the ideal mortgage product, we will obtain a mortgage agreement in principle, which serves as valuable support for any purchase offers you wish to make.

Submit Your Mortgage Application

Step 3

Upon acceptance of your purchase offer, your mortgage advisor in Durham will promptly submit your complete mortgage application and all the necessary supporting documents to your chosen lender.

Throughout the process, you will be assigned a dedicated case manager who will provide regular updates and ensure you are well-informed until you receive the official mortgage offer and successfully complete your property purchase.

Protecting You and Your Mortgage

Step 4

Our commitment extends beyond securing the best mortgage deal for you. We will also offer valuable recommendations for relevant insurance policies to provide comprehensive protection.

Furthermore, we will proactively reach out to you when the renewal date of your mortgage approaches, ensuring that you always have the advantage of being on the most favorable deal available.

Reasons to Choose us

Free Mortgage Appointment

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Easily schedule a free mortgage appointment by filling out our convenient 'Book Online' form. We make it simple for you to access self-employed mortgage advice in Durham.

Mortgage lending criteria can vary significantly among different lenders, particularly when it comes to matching self employed mortgage applicants.

1000s of Deals

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Our dedicated team of transparent and trustworthy mortgage advisors in Durham is committed to working diligently and confidently to ensure we find the most suitable mortgage product that aligns with your specific needs. Our goal is to provide an accurate recommendation from the very beginning.

Our Service

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What sets us apart from other mortgage advisors in Durham is our unwavering commitment to prioritising our customers. Your best interests are at the core of our service, as we tailor our approach to meet your unique requirements.

7 Days a Week

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Over the years, as an experienced mortgage broker in Durham, we have gained extensive knowledge and expertise in assisting self employed mortgage applicants from diverse backgrounds, helping them achieve mortgage success.

Malcolm and Amy Davidson - Mortgage Advice in Durham

We Search 1000s of Self Employed Mortgages in Durham

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Common Self Employed Mortgage Scenarios

Matching a Self Employed applicant with a suitable mortgage in Durham

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Take the first step towards securing a self employed mortgage in Durham by filling out our convenient ‘Book Online’ form to schedule a free mortgage appointment. We’re here to provide you with expert guidance and support throughout the entire process.

Our dedicated mortgage advisors in Durham specialise in handling self-employed mortgage cases. We go beyond just offering advice; we are committed to being by your side from start to finish, ensuring you receive the best possible experience.

Having Mortgage Problems?

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We speak to plenty of customers on a regular basis, who have perhaps found it quite challenging to approach their bank directly for a mortgage in Durham. Some of the reasons we hear for this include, but are not limited to;

  • Failed the Banks Criteria.
  • Bank Won’t Lend You Enough.
  • Fluctuating Net Profit.
  • Personal Circumstances.
  • Credit Score Problems.
  • Pay Structure.

It’s always worth remembering not to approach too many lenders by yourself, as being declined multiple times can harm your credit score and even stop you getting a mortgage altogether. Book a free mortgage appointment and we will make sure you are matched up to the most suitable mortgage lenders criteria.

Self Employed Customers & Bank Mortgage Advice

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When it comes to high street mortgage lenders, each one has their own credit scoring policies in place to determine mortgage eligibility. These policies are often based on the lenders’ historical data and experience with previous mortgage applicants.

They analise factors such as repayment statistics, repossession history, and other patterns to identify potential risks. While this saves time and money for lenders, it often leaves many self employed mortgage applicants at a disadvantage.

In the past, it was evident that self-employed mortgage applicants faced challenges, as lenders experienced higher instances of arrears among this group. However, this also meant that self employed applicants had a more difficult time securing a mortgage compared to other customers.

You may have already come across the strict lending criteria of high street lenders during your research. Many of these lenders require a minimum of three years of accounts, with some even basing their assessment on a three-year average of profits.

While not all lenders have the same requirements (some may accept one year of accounts), it is generally recommended to have more than one year of accounts to increase your options when it comes to mortgage selection.

Mortgage Guides & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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