Getting a mortgage if you’re self employed
There isn’t a specific product labelled ‘Self Employed Mortgages’. Your mortgage will be the same as a full-time applicant employed via a company. The difference? You may need to provide more evidence of income.
Luckily for you, there are specialist lenders on the UK market who understand the complexities of self employment. These lenders arrange mortgages especially for people working for themselves.
How much you’re allowed to borrow for a mortgage typically depends on your annual salary. And while many high street banks and mainstream lenders prefer the security of a stable income, you may even earn more in a year than a full-time employee.
However, your monthly earnings are more likely to fluctuate. Ultimately, as long as you’re able to prove your earnings are sustainable, you’ve got the green light for a mortgage.
How our self employed mortgage advisers can help
At Mortgage Synergy, our team is on hand to:
- Assess your finances and affordability
- Give you a range of options
- Offer tailored advice
- Explain the details of getting a mortgage if you’re self employed
- Provide recommendations for the right mortgage lender for you
- Ensure you’ve got all the necessary information and documentation
- Help you fill out the application
- Answer your questions
- Provide peace of mind and reassurance
And remember, all of the above is tailored to your unique situation. It is your mortgage, after all.
Self employment shouldn’t be a barrier for first-time buyers
Whether you’re a sole trader, freelancer, or contractor, you deserve the opportunity to apply for a mortgage. You’re a hard worker, you love what you do—you just earn a living in a different format.
The good news? Our self employed mortgage advisers know their way around the industry. We’ll guide you through the process and ensure your mortgage application shows your lifestyle in the best possible way.
We understand there can be periods where work dries up, but we also know this shouldn’t be a barrier to buying your first home. There are millions of self-employed people in the UK and it isn’t always plain sailing.
Rest assured, we’ll help make it happen for you. Your accounts don’t have to be perfectly organised. We’ll advise and ensure you have the necessary information to apply for a mortgage.
Why choose Mortgage Synergy?
Getting a mortgage if you’re self-employed requires a certain level of expertise, which is why it’s so important to seek professional advice. By getting in touch with us, we can begin your journey to your first home. You can schedule a fee-free consultation with one of our self employed mortgage advisers and we can take it from there.
We work with specialist lenders
We have access to the specialist lenders on the UK market. Not all lenders accommodate for self-employed people. Specialist lenders exist to make mortgages possible for people like yourself.
By enlisting the support of our friendly bunch of mortgage advisers, we’ll have a clear insight into the work you do, how you do it and what your finances look like.
We believe everyone should be able to get a mortgage, regardless of how they work. Day in, day out, we’re arranging mortgages for all kinds of people. Let us find you the best mortgage deal for your self employment status.
Your home may be repossessed if you do not keep up repayments on your mortgage.