MORTGAGES FOR THE SELF EMPLOYED

Self Employed mortgages are obtained by Self Certification. This is a simple way of specifying your income as you basically self declare your earnings and the UK self employed mortgage lender will not insist on seeing audited accounts.

This is how a mortgage for the self employed should work, but there are still some lenders who will need you to prove your income in other ways, such as an accountant's certificate. This is a document signed by your accountant to say that your income is adequate to repay the mortgage you require. You may also be asked to produce your business bank statements for a set period so the lender can look at the gross income you have received.

Most mortgage lenders will also carry out credit searches. If you are a home owner, you will be asked to supply your existing mortgage statements, and if you are renting the lender will ask for a reference from your landlord.

Self-certification mortgages for the self employed has restrictions - most lenders will only allow you to prove your income in this way if you want to borrow less than 75% loan to value, so you will need to put down a substantial deposit. However, some lenders may allow you borrow up to 85% on a self-certification basis.

Let us help you buy that dream home you have your sights set on, even though you are self employed and have no proof of income..

Call free on 0800 037 8310 or complete our online enquiry form for a decision within 24 hours or click here to find out a bit more about how you can get a mortgage with no proof of income.