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“Private Finance provided excellent service securing a remortgage for my property even though it was not a straight forward case. They always kept me updated and was on hand to help and deal with any issues arising. Would definitely recommend Private Finance for their services, offering guidance and support throughout the whole process.”
“Private Finance worked incredibly hard to secure our business re-mortgage. They were always calm, professional, polite and ready to wade in on our behalf when things stalled. We would happily recommend them, and look forward to maintaining our relationship. Many thanks!”
“Outstanding services in our mortgage search, during a weird environment of fast-changing market conditions. The team has always been super responsive, very clear in their replies to all questions we had along the process, and managed to get us extremely good deals on various mortgage products. I can only strongly recommend them for your mortgage search!!”
“Private Finance provided excellent service securing a remortgage for my property even though it was not a straightforward case. They always kept me updated and was on hand to help and deal with any issues arising. Would definitely recommend Private Finance for their services, offering guidance and support throughout the whole process.”
“Professional and proactive advice and service – secured me an amazing rate on my mortgage. The team were great with their communication and I always felt confident that things were progressing – completely took away any anxiety from a stressful process!”
“Private Finance have been fantastic in finding me the right provider and the right price. We have used them twice now, and both times the communication was fantastic, the options explained, and the rest of the paperwork dealt with. Would highly recommend.”
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A large proportion of our clients are self-employed.
This includes self-employed individuals, business owners, and ambitious entrepreneurs. Many individuals may find nowadays they generate part of their income through various self-employed avenues, whether this be through additional buy-to-let properties, higher earner tax returns or year-end pension reclaims.
With extensive knowledge of arranging mortgages for self-employed individuals, we are well-versed in the nuances of self-employment and the diverse affordability criteria set by these specialist lenders.
Self-employed individuals may find mainstream lenders are inflexible to meet their borrowing needs however, thankfully there are specialist lenders who offer more flexibility in such situations.
We empower mortgage seekers to discover a range of competitive mortgage products for which they may have previously believed they were ineligible. We understand that no two self-employed individuals are the same, and your mortgage needs may be as unique as your business.
Please remember your home may be repossessed if you do not keep up repayments on your mortgage.
It is widely acknowledged that self-employed individuals are likely to face more challenges securing a mortgage compared to a full-time permanent employee. The primary hurdle in securing a mortgage is often their lack of awareness about available options.
Even as more and more individuals opt for self-employment, there are many who face certain challenges when applying for a mortgage. This most commonly involves proving a steady flow of income, paying yourself too low of a salary or trading for a short period. A large portion of the working population could be unfairly excluded from the mortgage market, despite being perfectly equipped to meet the financial demands posed by such loans.
Mortgages for company directors can be rather complex. There are a number of different ways that lenders look at income for controlling company directors; some base it solely off drawings, others through the share of gross profit before or after tax, some look at a 2 or 3 year average, whilst others look at the latest year only.
We recognise the complexities associated with being self-employed and believe this shouldn’t hinder your homeownership plans. Using our network of specialist lenders and extensive knowledge of the mortgage market, we are exceptionally placed to find the right solution for you.
To be considered a self-employed individual by a lender, you will own more than 20% to 25% of a business, which is also your main source of income.
You will need to have been self-employed for a minimum of one year to qualify for a mortgage.
You may be a:
The documentation required for proof of income depends on your personal circumstances and how you trade, whether you are a sole trader, limited company, or contractor.
Gathering the necessary paperwork for a self-employed mortgage application can seem overwhelming. However, we are here to streamline the process for you. Our team will guide you on all other documentation required, which may include financial statements, tax returns, business bank statements, and other relevant paperwork.
We’ll work together to ensure you have a complete application that showcases your financial stability and borrowing capacity.
While self-employed individuals may face certain challenges when applying for a mortgage, such as providing proof of income, it does not necessarily mean they will automatically be subjected to higher mortgage rates compared to a permanent, full-time employee.
The mortgage rate that is feasible to you is more likely to depend on your deposit amount, credit rating and overall financial situation.
As long as you are able to provide sufficient documentation for proof of income, you should be at no lesser advantage than if you were to have full time permanent employment. If you face challenges using a high street lender, specialist lenders exist in the market who understand the unique nature of self-employment and can offer more flexible solutions, however these rates may be higher. We can help connect you with the right lender that works for you.
With our online mortgage tools, find the information you need using our helpful guides, information on the best mortgage rates and handy mortgage calculators.