How many years on the books do I need?

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?

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

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

Self Employed Mortgages in Manchester

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.

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 initial 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 most suitable 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.

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.

FAQ's From Self Employed Applicants

Our Customers Love Us

4.96 Rating488 Reviews

Danielle

We can’t thank Malcom and his team enough for getting us on the property ladder. A year ago we didn’t think it was possible but they did everything they could to find us our mortgage. Thank you so much!

1 week ago

Sameer

Conor is always outstanding with his follow through and team is fantatsic. Always a joy to deal with. Cheers.

2 weeks ago

Danniela

The service was absolutely amazing. Lee was very easy to communicate with and very helpful.

3 weeks ago

Peter

The whole process went well and perfect

1 month ago

Albert

Excellent customer service provided experts who fully support their clients.

1 month ago

Alina

Matt and the team have been brilliant! Really knowledgeable, got everything sorted out so efficiently and quickly! Can't ask for better service! Will definitely be recommending to my friends!

1 month ago

Linda

We were offered a really poor mortgage deal by our own bank (despite banking with them for over 40 years), and their adviser didn’t seem to know how to help us. A colleague suggested trying a mortgage broker, so we searched online and found...

1 month ago

Frederick

Experience team, very helpful, understanding, patient, work as a team.

2 months ago

Helen

Debbie and Chris have been amazing. Keeping me informed every step of the way. Recommend UK Moneyman

2 months ago

Timothy

Great service from the start, will certainly use them again.

2 months ago

Habib

Really good service,Jason and Stacy were really good and made it easy

2 months ago

Bryn

Charlie was pleasant, thorough and efficient. In just half an hour he had explained several different options for my remortgage and we had come to an agreement on how to proceed. Such a great service!

3 months ago

Michael

The service was excellent with a personal advisor walking me through the process end to end, answering any questions I had throughout. Would highly recommend to anyone!

4 months ago

Dawn

Leo Shakespeare and Stacey Moss have been Fantastic throughout the process of getting our mortgage they have been in contact throughout explaining everything to us from start to finish we can not thank them both enough for helping with this process...

4 months ago

Deborah

Excellent and friendly customer services

5 months ago

Dr William

Charlie has been so helpful and very approachable. The whole team at ManchesterMoneyman have been great. Highly recommend to others!

5 months ago

John

Charlie was friendly, thorough and full of advice, which was great as a first time buyer. He was also very accommodating of my extra needs due to my loss of hearing, which is quite rare in my experience. I’d highly recommend Manchestermoneyman and...

5 months ago

Anonymous

Chris - our mortgage broker has been incredible throughout the process. Very pleased with the service offered and will be back when we need to remortgage.

5 months ago

Anonymous

We received a great service, no hassle for us, they worked quickly with initiative and secured a good product.

6 months ago

Mr.

We have used Manchester money man a few times now and always find them to provide us an excellent service. They offer all options and explain the pros and cons of each allowing us to make an informed decision. Could not recommend highly enough

6 months ago

Our Simple Remortgage Process

Free Initial Mortgage Appointment

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

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

Submit Your Mortgage Application

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

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

Reasons to Choose us

Free Initial Mortgage Appointment

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

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

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

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.