Being classed as self employed quite often means that there are a few extra checks that need to be carried out to get you your mortgage or remortgage. It is strange to think that if you were employed rather than being self-employed it may well be easier to acquire your new mortgage. All lenders work differently, they tend to use what is termed as a score card or points system to help them to underwrite your self-employed mortgage application. Dependent on how high or low your score is, this usually determines if the lender is prepared to lend to you.

There are different types of self-employed applicants from sole traders, limited companies or partnerships. Dependent on what type of company you have, may also determine the lender may be able to offer you your self-employed mortgage. Having independent mortgage brokers helping and guiding you through the process could make all the difference to you getting the self-employed mortgages at all.

self-employed

We would first of all ask you to take part in a fact-finding exercise to ensure your independent mortgage broker and you know exactly what you require and what your needs are for the self-employed mortgage.

Once we have the information regarding your self-employed mortgage requirements we will assess where to look for the best results for your needs and circumstances. We may need you to supply certain information such as your latest accounts, your latest tax calculations and tax overviews, these documents sometimes are called SA302’s this is a HMRC term used for the documents that most lenders will require for you to obtain your self-employed mortgage. Don’t worry if you feel that you are unsure how or where to obtain the relevant documents, we can send you a handy guide to obtain these documents easily. You can either call us on 0333 210 0082 or email us directly on info@imbonline.co.ukfor any assistance you may require regarding your self-employed mortgage application.

Let us help and assist you realising your dream of home ownership or remortgaging your existing home. We work with lots of specialist lenders that would love the opportunity to assist you in your quest for that perfect self-employed mortgage. 

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments

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