Don’t believe us? Keep reading for some handy tips to help you get on the property ladder while enjoying the benefits of working for yourself.
Getting a mortgage is hard enough these days but being self-employed adds an additional layer of complexity. So much so, in fact, that over a million self-employed Britons believe they’ll never own a home!8
When you apply for a mortgage, your lender will want to know that you have a steady income and that you’ll be able to keep up with your repayments. For self-employed people, who are more likely to earn sporadically, this can be difficult. Typically, lenders will ask for three years’ worth of accounts as proof of income before making an offer, although there are a few that might lend on less. No wonder two-thirds of selfemployed workers are finding it hard to get a mortgage!
In short, yes. There are things you can do to make lenders more likely to accept your mortgage application – here are just a few:
We understand the difficulties of getting a mortgage when you’re self-employed – but it’s not impossible. We can help you to find more flexible providers who are open to lending to self-employed people. So, don’t give up! Just get in touch.
8Kensington Mortgages, 2019
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.