Self Employed Mortgage Advice in London

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Advice for Self Employed Mortgages in London.

Unfortunately, it can be challenging for Self Employed applicants to obtain a mortgage due to the strict lending criteria and difficulty proving your reliable income.

You will be asked for different evidential documents to prove your income. Lenders will ask for at least one years’ accounts and bank statements of more than three months. Most will also take a look at your net profit to determine whether you are a suitable applicant or not.

The difference between a Self Employed mortgage applicant and a regular applicant is that you and also your business will be assessed. As a mortgage broker in London, our job is to help you prepare your Self Employed mortgage application so that you are in the best position possible upon your submission.

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Self Employed Mortgage Advice in London

1000s of Self Employed Mortgage Products

We have been helping Self Employed applicants secure competitive mortgage products for the past 20 years. With our industry experience, we are able to identify the best deal for you.

We know the struggle that Self Employed mortgage applicants can encounter along the way, and that’s why we are here to help! Whether you’ve already been through the process before or this is your first time, it will still be extremely beneficial to have a mortgage broker in London by your side. With experience, knowledge and our skillset, we will help you achieve your mortgage dreams.

All Self Employed applicants can benefit from a free mortgage appointment by booking online today. Get in touch and speak with a dedicated Self Employed mortgage advisor in London who will answer all of your questions and hold your hand throughout the progress.

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Self Employed Mortgages FAQ's

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

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We tend to find that you must have been self-employed in London for at least two years, as most lenders want to see evidence of this period.

In some cases, you may come across mortgage lenders who only need to see one year from you.

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

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Applicants for self employed mortgages in London will find that they have access to the same mortgage rates as any other applicant employed. The only thing that changes during the mortgage process is how a mortgage lender evaluates your income. Outside of that, everyone has the same opportunity.

What qualifies as being self employed in London?

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You will be classed as self employed in London by a mortgage lender if you own a minimum of 20-25% or more of a business.

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

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Although many may have the initial perception that self employed mortgage applicants are at a disadvantage, there are actually no specific requirements or additional barriers to prevent you from applying for a self employed mortgage in London.

The part that is usually difficult for this type of mortgage applicant is to accurately prove your income and prove that you have a fairly reliable and strong enough income. Mortgage lenders will only take into account any taxable income you have.

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

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Sometimes the mortgage process can be complex, and this is where having a mortgage broker in London can be beneficial by your side.

We helped many different customers with their self employed mortgage in London, even when they thought the odds were all against them.

Now is your chance for us to help you get a mortgage as a self employed applicant in London.

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Our Simple Remortgage Process

Free 30-Minute Mortgage Appointment

Step 1

Discuss your situation and mortgage goals with a dedicated mortgage advisor in London.

During this appointment, your advisor will look at your tax year overview and tax calculations to work out your maximum affordability.

We Can Search 1000s of Mortgage Deals

Step 2

Our team will look through 1000s of mortgage products to find the best deal for your circumstances.

We will then find you a mortgage agreement in principle to help you back up any offers you want to make.

Submit Your Mortgage Application

Step 3

Once your purchase offer has been accepted, your mortgage advisor in London will submit your full mortgage application and evidential documents to your lender.

Throughout the process, a dedicated case manager will keep you up to date until you receive your official mortgage offer and complete your purchase.

Protecting You and Your Mortgage

Step 4

Our service won't just stop here. We will not only secure you the best mortgage deal, and we will also recommend relevant insurance to protect you.

We will also contact you about the date of renewal of your mortgage to make sure you are always on the best deal.

Reasons to Choose us

Free Mortgage Appointment

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If you are in a tricky 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.

1000s of Deals

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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.

Our Service

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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.

7 Days a Week

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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!

Malcolm and Amy Davidson - Mortgage Advice in London

We Search 1000s of Right to Buy Mortgages in London

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Common Self Employed Mortgage Scenarios

Matching a Self Employed applicant with a suitable mortgage in London

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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 advisors 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.

Self Employed Mortgages in London & Bank Advice

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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.

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.

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Authorised and Regulated by the Financial Conduct Authority.

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