Can I get a mortgage in Bristol if I have only one year of self employed accounts?

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 most suitable way.

How do lenders assess self employed income for a mortgage in Bristol?

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.

Will my fluctuating income affect my mortgage application?

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.

Can I get a mortgage if I have bad credit and am self employed in Bristol?

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.

Self Employed Mortgages in Bristol

Can I get a self employed mortgage in Bristol?

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.

Self Employed Mortgage Advice in Bristol

How much deposit do I need for a self employed mortgage in Bristol?

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.

How is my income assessed for a self employed mortgage in Bristol?

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.

Speak to an Advisor

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.

Self Employed Mortgage FAQs in Bristol

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Anonymous

Excellent service, kept up to date and was advised every step throughout the process.

1 month ago

Anonymous

Dan and Jonathan were both brilliant and kept me informed all the way after helping me find the product that was suitable for me. I wouldn't hesitate to use Moneyman again. We communicated by email and telephone.

6 months ago

Anonymous

A bit of background - I was coming to the end of an interest only mortgage so sought advice on my options with the UKMoneyman and was introduced to Dan who was very helpful and went through my options of the different products and the pros and cons...

9 months ago

Adam

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...

1 year ago

James

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...

1 year ago

Jessica

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!

3 years ago

Anonymous

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.

3 years ago

Eamonn

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 most suitable mortgage on the...

5 years ago

Our Simple Mortgage Process

Free Initial Mortgage Appointment

Booking a free initial 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 most suitable options tailored to your needs.

1000s of Mortgages

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.

Mortgage Application

Once we’ve identified the right mortgage for you, we’ll handle the application process, presenting your case to the lender in the most suitable 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.

Completion

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.

Reasons to Choose Us

Free Initial Mortgage Appointment

We offer a free initial 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 most suitable mortgage deal.