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Self Employed Mortgage Advice in Manchester

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7 days a week, 8am - 10pm

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Self Employed Mortgage Advice in Manchester

Speak to a mortgage expert today for tailored self employed mortgage advice in Manchester.

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Advice for Self Employed Mortgages in Manchester

It can be a challenge for applicants of self employed mortgages in Manchester, because you’ll need to prove you have a reliable income.

There are plenty of ways to prove that you have a reliable income to a mortgage lender. The good news is you have a chance of obtaining a mortgage. It’s just a case of jumping through a few extra hoops.

That said, we recommend that you pursue mortgage advice in Manchester before you start your process. No matter what type of business owner you are, we believe the service from a Mortgage Broker in Manchester will benefit as we’ll search 1000’s of products to find you the most suitable deal to match your current circumstances.

Manchester is a popular living area for freelancers; we have helped many applicants who are looking for self employed mortgages in Manchester to get onto the property ladder. Don’t panic if you feel that your case is a bit of a challenge. The chances are that we have likely encountered a similar situation like yours at some point before.

Our Mortgage Advisors in Manchester will guide you during the entire mortgage process, giving you expert mortgage advice and doing our very best to increase the odds of achieving your mortgage goals.

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Self Employed Mortgage Advice in Manchester

1000s of Self Employed Mortgage Products

If you want to speak to a mortgage advisor in Manchester regarding obtaining a mortgage or look at your potential options are in the future, book your free mortgage appointment online or give us a call. We have worked alongside a wide variety of applicants who are looking for self employed mortgages in Manchester, like yourself, in similar or different scenarios and have helped many get onto the property ladder.

Each applicant came to us to help them secure the most suitable deal. We did this by utilising our knowledge of various lending criteria, which we’ve built up quite the track record in finding success with this. It’s vital to remember that because you are self employed in Manchester, the only significant difference to non-self employed applicants is manly how you evidence your income.

For example, you can sufficiently evidence everything and remain honest to yourself and the lender. In luck, you’ll hopefully run through the process smoothly and find success, just like any employed applicant would.

How is my income assessed as a Self Employed applicant?

Lending criteria can vary from lender to lender, and that is no different when you’re looking for self employed mortgages in Manchester. Our experienced mortgage advisors in Manchester always work hard to make sure that you are matched up with the best mortgage deal for your personal circumstances. It’s our aim to get our recommendation right the first time!

As Mortgage Advisors in Manchester we offer a service that is tailored to our customers and their individual circumstances. We will always have your best interests at the heart of what we do.

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FAQ's From Self Employed Applicants

How many years on the books do I need?

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The required number of years for a self employed mortgage can vary depending on the lender’s criteria. However, most lenders typically seek a track record of at least two to three years of financial records, such as tax returns or company accounts. This documentation is used to evaluate your income stability and determine your eligibility for a mortgage. While some lenders may accept just one year of accounts, it’s essential to note that this could limit your mortgage options and potentially impact the terms of the loan.

How will a Lender assess my income?

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Lenders assess the income of self-employed individuals differently compared to salaried employees. They usually consider your average annual income over a specific period, often spanning the past two to three years.

I’m a Director of my own Limited Company

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When applying for a mortgage, even if you are a director of your own business, you are typically regarded as an employee. To undergo assessment, most lenders require that you own less than 25% of the shares in the company. Lenders combine the dividends you receive with your annual salary to calculate your overall yearly earnings, which, in turn, determines the maximum borrowing amount.

There are lenders who base their income calculations on net profit rather than dividends or salary. This approach can be advantageous for directors who maintain relatively low drawings from their business. It’s advisable to explore different lender options to find the one that aligns best with your financial situation as a self-employed individual

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Our Simple Remortgage Process

Free 30-Minute Mortgage Appointment

Step 1

During this appointment, your mortgage advisor in Manchester will look at your asessment to work out your maximum affordability.

We Can Search 1000s of Mortgage Deals

Step 2

Our team will look through 1000s of mortgage products to find the most suitable deal for your circumstances.

Submit Your Mortgage Application

Step 3

Once your purchase offer has been accepted, your mortgage advisor in Manchester will submit your full mortgage application and evidential documents to your lender.

Protecting You and Your Mortgage

Step 4

Our service won't just stop here. We will not only secure you the best mortgage deal, we will also recommend relevant insurance to protect you.

Reasons to Choose us

Free Mortgage Appointment

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There are a variety of lending criteria all depending on the lender, in relation to self-employed mortgages. With this in mind, our dedicated Mortgage Advisors in Manchester strive to appropriately match you up with the most appropriate lender for your personal circumstances. This is something we intend to get right the very first time.

1000s of Deals

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Through our rich knowledge and experience in the mortgage industry, we have helped a plethora of customers that are limited company owners, sole traders, partners that receive a salary, dividends or a mixture of both, Our expert team always works hard to try and find solutions for those who are looking for support with their mortgage.

Our Service

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With our mortgage market expertise, we are able to find you the most appropriate mortgage that benefits your personal and financial circumstances.

7 Days a Week

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We are proud to provide a tailor like service to the customer in question. We work with the customers interest at heart which is why we are here til late to answer any mortgage questions you may have.

Malcolm and Amy Davidson - Mortgage Advice in Manchester

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Common Self Employed Mortgage Scenarios

Self Employed Customers & Bank Mortgage Advice

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The majority of high street mortgage lenders that spring to mind will use their own in-house credit scoring policies in order to determine whether or not a customer can take out a mortgage with them. These credit scoring policies are usually based on the history of that mortgage lender during their time within the industry.

When they do this, they will look at previous statistics for mortgage repayments, any repossession information and other patterns, in order to figure out what, to them, is considered high-risk lending. History has shown that Self-Employed applicants have fallen into arrears a lot more often than regular employed applicants, making their process a lot more difficult.

If you’ve been researching, you might know that the majority of high street lenders have very strict lending criteria, with a lot of them wanting to see your profits increase over a minimum of three years accounts. Some may take a three year average instead.

This isn’t the case with all mortgage lenders (some may only require one years’ worth), it’s always better to have more to hand, just in case. The reason for this is that it will likely increase your chance of mortgage success.

Having Mortgage Problems?

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During our time as a mortgage broker, we have increased our experience levels when it comes to helping limited company owners, sole traders and partners that receive a salary, dividends or a mixture of the two. We use our expertise to find our customers solutions for their mortgage problems.

We regularly converse with customers who for one reason or another, have found difficulty in approaching their bank for a mortgage. Some of the reasons they have been given for this include;

  • Failed banks criteria
  • Bank won’t lend enough
  • Pay structure
  • Credit score
  • Fluctuating net profit
  • Personal situation

We would always recommend that you refrain from approaching various different lenders by yourself, especially if you are unsure of how their lending criteria works. If you attempt to do this yourself and come up short, you could negatively affect your credit score and potentially harm your chances of getting a mortgage at some point in the future.

Self Employed Applicant Scenarios

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We work alongside a wide variety of self-employed mortgage customers on a regular basis, all of whom need the services of an open & honest Mortgage Broker in Manchester.

Below we have put together a small selection of mortgage scenarios that we have come across when speaking to Self-Employed applicants during our time as a mortgage broker in Manchester:

  • As a self-employed business owner, your income is made up of a combination of either salary, dividends or directors’ loan.
  • Your company is currently experiencing a particularly busy business period and you require the services of a mortgage advisor in Manchester to help you through your mortgage process.
  • You prefer to leave the vast majority of your net profit within your company, as opposed to paying yourself a much bigger salary.
  • Your business has been trading for less than one year.
  • Even though you have a really good credit score, you aren’t matching up to the banks’ strict lending criteria.
  • You are the owner of a company, a director, a sole trader or are a business partner, requiring self-employed mortgage advice in Manchester.
  • The bank is putting a limit on the amount you can able borrow, which is less than the amount you need.
  • You have an unsteady net profit.

Typically speaking, if you are a self-employed mortgage applicant, going to your bank for mortgage advice in Manchester is not the best of ideas. This is because the banks have automated systems. Unfortunately, no matter how many years you have been banking with them or how much goes into your account, there’s not a lot you can do if you get declined.

When you are encountering mortgage difficulty, you may need to enlist the help of a mortgage broker in Manchester, like us. We can step in and take a look at your case, matching up your needs and your current financial status to various lenders mortgage criteria. It is our hope that in doing so, we will help your mortgage journey to continue.

Mortgage Guides & Manchestermoneyman 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, Manchester, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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