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Self Employed Mortgage Advice in London

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Discover the possibilities of Self-Employed Mortgages in London!

 

Self-employed applicants can often find themselves faced with hurdles when it comes to mortgage deals, which is why a specialist mortgage advisor in London will do their best to ensure you are given the most appropriate deal for your circumstances. If you have a minimum of 1-year accounts, you could still be eligible for a mortgage on a property, depending on the lender.

 

As a knowledgeable mortgage broker in London, we know have experience with self-employed lending criteria and have a vast number of specialist lenders on a panel with thousands of products available to choose from. Our brilliant mortgage advisors offer fast & friendly self-employed mortgage advice in London.

 

Whether we are trying to obtain mortgages for customers or giving advice on how customers can prepare themselves for a future mortgage, we will always strive to provide a high level of service.

Self Employed Mortgage Advisor in London

If you are a self-employed applicant who is experiencing problems obtaining a mortgage? As a mortgage broker in London, we find that when customers get in touch, they have had struggles with their bank or high street mortgage lender regarding their mortgage application. This can be down to many reasons such as income structure, fluctuating net profit, the bank not lending enough money and so on.

 

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Self-Employed Scenarios

As a mortgage broker in London we work with various types of self-employed customers, all in need of help with their mortgage process. Here are some examples of situations we have encountered in the past, that may be similar to yours.

  • A company owner, director, sole trader, or business partner needing Self-Employed Mortgage Advice in London.
  • Your net profit is unsteady.
  • You leave your net profit in the company you own.
  • Your company is busy at the moment and you need the help of an advisor throughout the process.
  • You’ve only been trading for a year.
  • Needing to borrow more than what the bank has offered.
  • As a Self-Employed business owner, you get paid a combination of salary, dividends, or directors’ loan.
  • You have a great credit score but don’t match the banks’ criteria.

We often find that banks are not always eager to help their self-employed customers apply for mortgages. Regardless of the amount of years you have been banking with them or how much money you regularly pay into your account, if their computerized lending criteria do not pass your financial information, you cannot go forward with them.

 

This is where a mortgage broker in London may be able to help. We have extensive knowledge of varying lender criteria. Get in touch and we will book you in for a free mortgage consultation.

Why should I use a Mortgage Broker in London?

If you keep applying with multiple lenders over a period of time, still not matching up to their criteria, your credit score, and chances of being granted a mortgage could be seriously affected. This is where using an experienced mortgage advisor in London can prove to be incredibly beneficial. Our mortgage advice team in London are able to compare various deals from a large number of lenders, using our in-depth knowledge of self-employed lending criteria to ensure you end up with the most appropriate outcome.

  • We’re here for you! With our in-depth lending criteria knowledge, we’re very handy to have on your side.
  • It’s our job is to make you feel relaxed and comfortable right from your enquiry through to you getting your keys or completion.
  • Customer service is really important to us, please read our genuine reviews.
  • Our Mortgage Advisors will work around any work and family commitments, we want to provide you with the best service possible.
  • Unlike your bank, we’re able to search 1000’s of mortgage deals on your behalf to find the right one for you.

If you’re self-employed in London and in need of some expert self-employed mortgage advice to help you with the process. Contact us today and we will book you in for your free mortgage consultation.

What our customers say

Common mortgage
questions

Your free initial mortgage consultation in London will last roughly one hour. Your dedicated mortgage advisor in London will then recommend a mortgage for you, with no obligation for you to proceed. At this point, it is up to you to decide whether or not you wish to proceed with the recommended mortgage.

If you choose us as your Mortgage Broker in London, then our process will work as the following; One of our Mortgage Advisors in London will carry out a Fact Find to determine your, needs before recommending the most suitable mortgage available for you. A credit check will then be required for an Agreement In Principle.  Once all the relevant documentation has been gathered and the valuation of the property has been undertaken, a formal mortgage offer can be issued.

In order for you to ensure you are prepared as early as possible, our Mortgage Advisors in London recommend that you obtain an Agreement in Principle prior to viewing properties in London. At the very latest you should obtain a Mortgage Agreement in Principle before you make any offers, in order to help with your bargaining position.

An Agreement in Principle will normally last somewhere in the range of 30 and 90 days. This depends on the Lender that is being used. If your Agreement in Principle expires, your advisor can always refresh this for you.

If you are looking to achieve something like debt consolidation or home improvements, you may be able to get a second mortgage. The option for a second mortgage can also be used on a second property if you are looking at using it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit necessary for purchasing a house in London with High Street Lenders is usually at 5%. If you have had previous credit problems, this could be higher.

Obtaining a mortgage if you have had previous credit problems isn’t completely impossible, but you may face certain hurdles, such as some lenders requiring that you put down a higher deposit than usual, perhaps 15% of the property purchase price.

You are able to get a mortgage once you have submitted at least one year’s accounts. The majority of Lenders use your salary plus dividend to calculate the maximum amount you can borrow, whereas others may use your net profit.

Three payslips are generally what is required for an employee to prove their income and if you are Self-Employed, it’s usually the latest 2 years’ accounts. You will also need to produce some proof of ID, your address and the latest 3 months’ bank statements.

If you take up a free initial mortgage consultation with one of our trusted Mortgage Advisors in London, your appointment will last around an hour. Your advisor will be able to turn round an agreement in principle within 24 hours, with a formal mortgage offer taking roughly about three weeks on average.

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We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action to get to know your Self Employed situation a bit better.

Step 2

You can take some time out to browse potential properties in London.

Step 3

Make an offer on the property in London that you have your eye on – we’ll finalise your figures and help you get your best deal as a Self Employed applicant in London.

Step 4

Our Mortgage Advice in London and recommendations. We’ll try to find you the best mortgage deal and our team will be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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