News

Despite making up 15.1% of the working population, self-employed workers often find it extremely difficult to obtain a mortgage. This need not be the case.

Swap, Libor and Exchange rates as of 31st of January 2019

The news is abuzz with pessimistic projections for 2019. No matter where we end up, no matter what we do, the situation is without hope – or so we’re being told.

For the UK’s 4.8 million self-employed, mortgage options depend greatly on the sector and nature of their work. It’s often assumed that all lenders will want at least three year’s accounts and will base their maximum loan on taxable income. For contract workers, especially in historically dependable sectors such as IT, the reality can be very different - and much better.

New analysis by Private Finance reveals a staggering £15.4 billion of annual interest is being paid by mortgage borrowers sitting on their lenders’ standard variable rate (SVR).

Joint borrower sole proprietor mortgages – the new guarantor mortgage. Knowing you could afford the mortgage for the home you want, but being unable to get it, can be especially frustrating.

Unconventional income streams are not a barrier to getting the mortgage you want - if you know where to look.

The benefits of bridging finance can be realised at much lower cost, for those lucky enough to be in the right circumstances.