Self Employed Mortgages in Cheshire
At Aspire, we have helped many self employed clients with their mortgages in Cheshire, and many of them thought they would not be able to get one when they first called. There are several ways that lenders will assess your self employed mortgages and income using our experience we will match you with the best lender to suit your circumstances. As whole-of-market brokers, we have the access to a huge array of lenders, and we have the knowledge of how these lenders – from the big high-street lenders to smaller, more specialist lending companies – make these assessments.
Sole Trader Mortgages
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Limited Company Mortgages
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You will be classed as self-employed if you are a Sole Trader or work as an employed Contractor. Even if you are on a Ltd Company payroll, you are treated as self-employed if you own at least 20%/25% of a Limited Company or Partnership. Your income levels can fluctuate throughout the year so lenders will base your income on past performance; the most recent years’ tax documents and/or accounts
Whilst specific lenders requirements will vary, if you are self-employed or working as a contractor you will need to have:
- A minimum of two years’ accounts/ tax documents (although some lenders will accept one year) For those on zero hours contracts, you will typically need to show evidence of income from payslips and P60 over a two to three year period.
- If you are a Contractor or recently self-employed, lenders will want to see a track record of 2-3 years’ work within the same industry.
If you are too busy simply running your own business or find it confusing or intimidating when you try to get a mortgage as a self-employed person, contact me at Aspire Financial Services for friendly advice.
Book a free 30-minute introductory call.