Self Employed Mortgages in Devon
At Aspire Financial Services, we have helped many Self-Employed purchasers with their mortgages. Unlike an Employed purchaser, there are several ways a lender will assess a Self-Employed purchaser’s income. By using our experience, we will match you with the best lender and mortgage to suit your circumstances.
Sole Trader Mortgages
Strategy experience and analytical expertise combine
Limited Company Mortgages
Strategy experience and analytical expertise combine
Whilst lenders requirements will vary, if you are a Self-Employed, lenders will generally use your net annual income. Some require a three-year average, some a two-year average and there are some lenders that will use your last year’s net profit.
We will do a deep dive into your finances and find the best and most appropriate lender to match your circumstances, maximising your potential for the mortgage loan.
Lenders may ask for 2 or 3 years completed accounts and personal SA302 tax calculations. They will require your accountant’s details and often ask for their level of qualification.
Depending on the growth of your business, they may take an average of 2 years or perhaps just the latest year, but if turnover is down, they will most definitely use the latest year. If you have made a loss in the most recent year, you will most likely be declined.
If you are simply too busy running your business or find it confusing or intimidating when you try to get a mortgage as a self-employed person, contact me at Aspire Financial Services for friendly advice.
Book a free 30-minute introductory call.