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While being self employed can sometimes present more challenges than traditional employment, lenders do offer flexible mortgage solutions designed for business owners, freelancers, or contractors.
Typically, you’ll need to provide documentation, such as two to three years of accounts or tax returns, to verify your income.
Working with a specialist mortgage broker in Bristol like us can significantly improve your chances of getting a deal suited to your unique financial situation, as they have access to a range of lenders and products tailored for self employed applicants.
When it comes to self employed mortgages in Bristol, the deposit requirements generally align with those for traditional mortgages.
Most lenders will look for a minimum of 5% to 10% of the property value as a deposit. However, some lenders might ask for a larger deposit, especially if your income varies significantly or you have a shorter trading history.
A higher deposit can also increase your chances of securing a more favourable interest rate. Getting mortgage advice in Bristol can help you understand your options and find the right mortgage deal based on your deposit and financial circumstances.
Lenders will assess your income for a self employed mortgage in Bristol by looking at your trading history, typically focusing on the past two to three years of accounts or tax returns.
They often consider your net profit or the salary and dividends if you operate as a limited company. Some lenders might also take into account your business’s retained profits.
The assessment can vary depending on the lender, which is why speaking with a mortgage advisor in Bristol can be beneficial. They can guide you through the process and match you with lenders who are more flexible with their criteria for self employed individuals.
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Worth their weight in gold. Helped navigate a complex mortgage enquiry, we would have fallen at the first hurdle if we were applying on our own. Excellent response times and always kept us informed. Was on the fence about going with a broker at all...
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Malcolm and his team are so helpful, from the first call I had to discuss options all the way to getting my mortgage offer today. Any query I've had they answered immediately and offered to talk through my options, my case worker Lizzi was...
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Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!
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Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.
2 years ago
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Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.
4 years ago
Yes, it is possible to get a mortgage with just one year of accounts, although options may be more limited.
Some lenders prefer applicants to have at least two to three years of trading history, but there are specialist lenders willing to consider those with just a year’s accounts.
A mortgage broker in Bristol like us can help you find these lenders and present your case in the best possible way.
Lenders typically assess self employed income by reviewing your recent tax returns, usually focusing on the past two to three years.
They may look at your net profit if you’re a sole trader or your salary and dividends if you run a limited company.
Some lenders also consider retained profits within the business. Working with a mortgage broker in Bristol can help ensure that your income is presented accurately to potential lenders.
The deposit requirements for self employed mortgages in Bristol generally mirror those for traditional employed applicants, often starting at 5% to 10% of the property’s value.
However, if your income varies or if you have a shorter trading history, some lenders might ask for a larger deposit to offset perceived risk.
A higher deposit can also give you access to more favourable interest rates.
Fluctuating income can make the mortgage application process a bit more complex, but it doesn’t mean you won’t be approved.
Lenders often average your income over the past few years to get a clearer picture of your financial stability.
A mortgage broker in Bristol like us can guide you to lenders who are more flexible and willing to work with self employed applicants with variable income.
Yes, there are specialist lenders who offer mortgage products for self employed individuals with bad credit in Bristol.
While your options may be more limited, a mortgage broker in Bristol like us can help identify lenders that are more lenient and present your case effectively.
They will focus on your current financial stability and work history to improve your chances of being approved.
Booking a free mortgage appointment with our team of expert brokers is the first step towards securing your self employed mortgage in Bristol.
We’ll discuss your unique financial situation, review your documents, and explore the best options tailored to your needs.
As a specialist mortgage broker, we have access to 1000s of mortgage products, including those designed specifically for self employed applicants.
This wide range means we can find competitive deals that suit your income structure, whether you’re a sole trader, contractor, or limited company director.
Once we've identified the right mortgage for you, we’ll handle the application process, presenting your case to the lender in the best possible light.
Our experience with self employed mortgages in Bristol means we know what lenders are looking for and can ensure your application has the best chance of success.
After your mortgage application is approved, we’ll work closely with solicitors and lenders to ensure a smooth journey to completion.
You'll receive support from start to finish, so you can focus on getting ready to move into your new Bristol home.
We offer a free mortgage appointment to all self employed clients, giving you the opportunity to discuss your needs with an experienced mortgage broker in Bristol.
This initial conversation helps us understand your unique situation and set you on the right path to finding the best mortgage deal.
With access to 1000s of mortgage products, we’re well-equipped to find a suitable option tailored to self employed individuals.
Whether your income varies month-to-month or you have a complex financial setup, we’ll source the right mortgage that meets your circumstances.
Our dedicated service is designed to make the self employed mortgage process as straightforward as possible
From your initial enquiry to the moment you get your keys, we provide expert guidance, handling the tricky parts so you don’t have to.
We understand that self employed individuals have busy schedules, so our team is available 7 days a week to work around you.
You can contact us at a time that suits you, ensuring you receive support when you need it most.
If you’re newly self employed in Bristol and have only been trading for a year, you might worry that securing a mortgage is out of reach.
While many lenders prefer two to three years of accounts, we work with specialist lenders who may consider your application with just one year’s trading history, focusing on your projected income and the growth potential of your business.
Many self employed individuals experience fluctuations in income due to the nature of their work.
If your earnings vary month to month or year to year, we’ll present your case to lenders in a way that accurately reflects your overall financial health.
By averaging your income over a few years, we can help find mortgage deals that suit your situation, giving you a better chance of securing a mortgage in Bristol.
As a limited company director, you might retain profits in your business rather than paying it all as salary or dividends.
While some lenders only consider personal income, we work with lenders who also take into account the retained profits in your business.
This means you could potentially borrow more than with a standard self employed assessment, giving you more options in the Bristol property market.
If you’re a contractor with irregular or fixed-term contracts, getting a mortgage can seem complex.
As a mortgage broker in Bristol, we have over 20 years of experience helping contractors find lenders who understand contract-based income, often considering your daily or weekly rate and looking beyond traditional employment requirements.
Having a history of adverse credit, such as missed payments or defaults, can make getting a mortgage feel challenging, especially for the self employed.
We work with specialist lenders who are open to considering self employed individuals with a less-than-perfect credit record.
By highlighting your current financial stability and building a strong case, we can explore mortgage options suited to your circumstances.
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Bristolmoneyman.com & Bristolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Bristolmoneyman.com & Bristolmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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