As a well-experienced and reputable mortgage broker in Bristol, we know that it can be quite challenging for some self-employed mortgage applicants than it otherwise would be for regular employed applicants. Whether you’re struggling to match up with the correct lender criteria or prove your income, it certainly isn’t always as easy as it should be.
Whilst in an ideal world, everyone would be treated exactly the same on their mortgage journey, there are understandable and justifiable reasons as to why it can be so hard. The lender needs to be absolutely confident that as a self-employed applicant, you are able to afford your monthly mortgage payments. The factors they will take a look at include:
Our fast & friendly team of mortgage advisors in Bristol will always be on hand to help you find the most suitable mortgage deals out there for you as a self-employed mortgage applicant in Bristol.
We are always on hand to provide you with clear & simple guidance across the duration of your mortgage process, always ensuring you receive fast & friendly mortgage advice, whilst supporting your application by referencing your income and your years of accounts’.
As a self employed mortgage broker in Bristol, we are able to peruse 1000s of competitive mortgage products that are specifically aimed more towards self-employed applicants. Once we have found a deal that is right for you and you are happy to proceed, we can get started in the preparation ahead of your application for a mortgage.
Our advisors work all throughout the week, from morning until night, so that our customers have the option to pick appointments at times convenient to them. Get booked in for a free mortgage appointment and a member of our mortgage advice team will see how we are able to help you on your mortgage journey.
Contrary to popular belief, self-employed individuals in London are not at a disadvantage when applying for a mortgage. There are no specific barriers or requirements that prevent them from applying. The only challenge that self-employed applicants may face is providing accurate documentation to prove their income, which must be taxable.
Additionally, lenders may require a higher deposit, or may have more stringent income requirements for self-employed applicants. This is why we recommend getting self employed mortgage advice in Bristol prior to taking out any mortgage product.
As a mortgage broker in Bristol, we typically find that most lenders in London require self-employed individuals to have been in business for a minimum of two years before they will approve a mortgage application. However, some lenders may only require evidence of one year in business.
Self-employed individuals in London seeking a mortgage can expect to have access to the same rates as those who are employed. However, the process of evaluating income may differ, and additional documentation may be required to prove income.
It is recommended to shop around and check with multiple lenders to find the best deal.
You are considered a self employed applicant if you own a minimum of 20-25% or more of a business.
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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...
3 months ago
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...
5 months ago
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!
1 year ago
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.
1 year ago
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.
3 years ago
Every customer is able to book a free mortgage appointment online with one of our advisors by simply answering a few questions.
During your free appointment, which will take place with a mortgage advisor in Bristol, you will be asked to provide information about your income and expenses to help determine your maximum budget for a mortgage.
After your appointment, your mortgage advisor in Bristol will work to find a mortgage product that is appropriate for your personal and financial situation.
If you decide to proceed with this product, the next step will be to begin preparing your mortgage application.
When you are ready to submit your mortgage application and have provided the necessary evidentiary documents such as proof of income and affordability, the process of sending the application will begin.
Throughout the process, you will be assigned a case manager who will keep you informed and updated on the progress of your application.
We will also offer personalised recommendations for insurance products to protect you and your family's future. The last thing we want for you is for your health to impact your ability to make your mortgage payments.
We also stay in touch with our customers and reach out to them prior to the renewal of their mortgage to ensure they are still getting the best deal available.
Our team of team of open and honest mortgage advice experts in Bristol will always work hard in order to make sure that you are matched up with the most appropriate mortgage lender for your case, aiming to get this recommendation right the very first time around!
Across our experience as a dedicated and hard working mortgage broker in Bristol, we have gained an in-depth knowledge of mortgage criteria and how to help with people who are limited company owners, sole traders, partners that are receiving a salary, dividends or a mixture of both.
We have a wide range of lenders on our panel, including both high street and specialist lenders. This allows us to search and find the perfect mortgage product that fits your unique situation. Our goal is to ensure that you receive the best deal possible.
We are dedicated to providing you with the best service. Once you get in touch with us, one of our mortgage advisors in Bristol will be assigned to you and will be available to you throughout the entire process. We always have your best interests in mind!
We regularly work with self-employed mortgage customers, from a variety of different backgrounds and each with their own unique case and in need of fast & friendly mortgage advice in Bristol.
Below we have compiled a small selection of commonly occurring mortgage scenarios that we have seen during our time as a trusted mortgage broker in Bristol when we have gotten in touch with self-employed mortgage applicants:
You leave a large portion of your net profit within your company, rather than paying yourself a salary that is larger.
Your business has not been trading for over one year.
You’re a company owner, a director, a sole trader or you are a business partner, requiring expert self-employed mortgage advice in Bristol.
The bank is limiting the amount you are able to borrow and you are looking to borrow more than what they can offer.
As a self-employed owner of a business, your income is a combination of either salary, dividends or a directors’ loan.
Your net profit is not steady.
Your company is quite busy at the moment and you need assistance from a trusted mortgage advisor in Bristol.
Despite your credit score being great, you just don’t seem to match the banks’ strict lending criteria.
If you are self-employed and looking to get a mortgage Bristol, it’s essential to approach a professional for advice. Our team will help you prepare your application and will only recommend products that we know you will qualify for.
If you have any questions, please don’t hesitate to reach out to us. Keep in mind, different lenders use their own credit scoring methods to determine mortgage eligibility, so it’s best to be careful when applying to multiple lenders.
A high number of declines can negatively impact your credit file. Lenders will also consider factors such as previous mortgage repayment history, repossession information, and spending patterns to assess the risk of lending to you.