Popular Scenarios for Self Employed Mortgages in London
We have worked with many Self Employed applicants over the years working in the industry. Most times we are able to find the perfect mortgage product that matches the applicants’ Self Employed personal and financial situation.
Below is a short selection of common mortgage scenarios for the Self Employed. If you are in any of these situations and need further Self Employed Mortgage Advice in London, feel free to reach out to us and we can try to answer any questions that you have.
- You are a Self Employed business owner and your income is made up of a combination of either salary, dividends or directors’ loan.
- Your company is currently dealing with a high volume of customers and you require help from a Mortgage Advisor in London to take off some of the pressure and stress of getting a mortgage.
- You’d prefer to leave most of your net profit within your company, as opposed to paying yourself a much bigger salary.
- Your company has been trading for less than a year.
- You’re unable to match the lender’s strict lending criteria.
- You just want to ask a question or get Self Employed Mortgage Advice in London.
- The bank has limited the amount that you can borrow and you need more than this amount.
- You have an unsteady net profit.
When you are Self Employed, it may be necessary to get Mortgage Advice in London. Rather than going to your bank and getting declined, it may be an idea to approach a professional who can help you prepare your application so that you stand the best chance of being accepted. Our team will only put you forward for products that we know you will match.
We are here to answer your questions too! Get in touch, tell us a little bit about your situation and we will do our best to answer your question.
Self Employed Mortgages in London & Bank Advice
Most lenders will use their own in-house credit scoring methods to determine whether or not you qualify for a mortgage. The method used can vary from lender to lender, and that is why you need to be careful when applying to lots of different lenders. You may be accepted by some, yet declined by others. The more that you are declined, the harsher the negative impact on your credit file is.
They will factor in previous statistics for mortgage repayments (if any), repossession information, business and spending patterns when deciding whether to qualify your application. Lenders will always consider the risk of lending to you; if you pose a threat and are at risk of failing to meet your repayments, you may struggle to get accepted.
Mortgage Advice for Self Employed Mortgages in London
Lending criteria varies from lender to lender. This applies to every mortgage situation; some lenders will also tailor their products to certain types of buyers. Our job is to find the right product for your Self Employed mortgage situation so that you come out with a deal that is best suited to your personal and financial situation.
Once you get in touch, your dedicated Mortgage Advisor in London will be by your side throughout the whole process. Our best interests are always at heart!
Having Mortgage Problems?
We come across all kinds of applicants struggling with different mortgage problems. Once we get an idea of your situation, we can try and work out a resolution and get over the hurdle.
- Are you failing to meet lender criteria?
- Are the banks not lending enough?
- Do you have a poor payment structure?
- Is your credit score poor or needs improving?
- Do you have a fluctuating net profit?
- Is a personal situation such as a divorce or separation impacting your application?
If you are in one of these scenarios and need help from a Mortgage Advisor in London, feel free to get in touch rather than applying to a lender and risk getting declined multiple times. The more that you are declined, the more harm you are doing to your credit score.