UK Self Employed Mortgage

As a self-employed borrower you may well face a problem if you have a good the less attractive you may look as a prospective mortgage borrower. This is because a decent accountant will play down profits in order to minimise tax liability. By downplaying your profits it could turn out that when a lender looks at your accounts, their assessment of how much you can borrow is based on an income that doesn’t reflect your ability to pay. The result could be your business might not look as successful on paper as it actually is and the amount a mainstream lender will offer you will be reduced.

Most of the traditional lenders will insist on seeing three years’ worth of audited accounts before lending.

As lenders look at it: if you are self employed then you have to chase things like payments and invoices, you could be working on a contract, if so what will happen when that runs out, will you succeed in getting a new contract.
A number of specialist lenders in the UK have woken up to the fact that people who are self employed are more than capable of servicing a mortgage that does not relate directly to their 'on paper' income.

No Proof of Income
There are products available where you provide some level of proof of income and others known as self-cert where you simply state what your income is and the lender gives you a mortgage based on that basis, no proof is required.

Flexible Mortgages
You can find a mortgage that could be adapted to your changing circumstances. You could increase payments or a pay lump sum when business is good, even reduce payments or take payment holidays during a quite period.

We'll help you Find a Self Employed Mortgage.
Simply complete our online enquiry form or use our Mortgage Quick Search to find the right mortgage for you.

Full range of UK Mortgages: