Correct at 31/03/2020
Work for yourself and worry about getting a mortgage? Getting a self-employed mortgage doesn’t have to be difficult with our help. Here at L&C, we’ve got all the specialist knowledge you need to ensure you get the best self-employed mortgage.
Our expert advisers are on hand to talk you through all the available options, and to support you through the application process. Our service won’t cost you a penny, so get in touch with us now to find the right mortgage for you.
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Mortgages for self-employed people work in just the same way as any other mortgage, but the process can be a bit trickier if you work for yourself. That’s because if you’re self-employed, you might not always have a stable regular income, so lenders tend to be a bit more cautious.
Here at L&C, we can advise you on exactly what sort of documents and paperwork a lender will need to see before they can offer you a mortgage. Don’t assume if you’ve only recently decided to go it alone that you won’t be able to get a self-employed mortgage. Although most lenders will want to see at least two years proof of earnings, some only require one.
Lenders will want to see proof of your identity and your current address, along with paperwork confirming your earnings, such as your certified accounts or self-assessment forms (SA302s), along with bank statements showing your income and outgoings.
Lenders will usually ask for your SA302 forms for the last two or three years as proof of your income. This is the self-assessment form that shows how much income was declared to HMRC and how much tax you paid.
No, self-employed people pay the same mortgages rates as those who are in full or part-time employment.
Choosing the right mortgage for you can be really tricky.
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