Self employed mortgage tips

3 steps to impartial mortgage advice

Submitting Details...

Step 1 of 3

About your mortgage

Are you looking to:	How much would you like to borrow?
Buy a property Remortgage a property Buy a property to let

	How long do you need the mortgage for?

Proceed to step 2.

Step 2 of 3

About your mortgage

Estimated property value?

Are you a first-time buyer?
YesNo

Do you need to self-certify your income?
YesNo

Have you:

	Had a CCJ or Default registered against you?
	Missed one or more secured loan or mortgage payments in the last 12 months?
	Been declared bankrupt or had an IVA?

Proceed to step 3.

Step 2 of 3

About your mortgage

Estimated property value?		How much would you like to borrow?

Proceed to step 3.

Step 3 of 3

Your details

First name:	Last name:

Phone number:	Alternate phone number:

E-mail address:	Date of birth:


First line of current address:	Current postcode:

Finished

Thank you for your enquiry.

will be in touch with you shortly.

1. Gather information

Before you start looking for a mortgage, gather together the following information:

Business plan.

Previous career profile (if your business is a start-up).

Financial information for the last three years, including balance sheet, profit and loss account (ratified by a professional accountant) and cash flow statement.

If start-up, as many accounts as are available and projections prepared by a qualified accountant.

2. Talk to an advisor

If you do not have the required financial information, perhaps because you have not been in business long enough, talk to an adviser about a self-certification mortgage.

3. Visit a broker

In order to get access to the widest range of mortgages for self-employed borrowers, visit a mortgage broker or financial adviser.

4. Don't forget your fluctuating income

A flexible mortgage can be ideal for the self-employed borrower, as it allows you to make overpayments and underpayments as your income fluctuates from month to month.

5. Don't overstate your income

If you do need a self-certification mortgage, do not be tempted to overstate your income. Borrowing too much is irresponsible - and it is illegal to lie about your income on a mortgage application form.