Can I Get a Mortgage if I’ve Recently Become Self-Employed?
Recently becoming self-employed does not automatically stop you from getting a mortgage. However, your options may be more limited because lenders have less financial history to use when assessing your income. The strength of your application will depend on how long you have traded, how your business is performing and what evidence you can provide. […]
What Mortgage Lenders Look for From Self-Employed Applicants
Getting a mortgage when you are self-employed can feel more complicated than applying as a salaried employee. The difference is usually not that mortgage lenders consider self-employed applicants unsuitable. It is that self-employed income can be structured in several ways and may change from one year to the next. Mortgage lenders therefore need clear evidence […]
Mortgages for Contractors Explained Simply
Getting a mortgage as a contractor can seem more complicated than applying as a permanent employee. Contractors may work through fixed-term agreements, umbrella companies or their own limited companies. Their income can therefore appear less predictable to lenders, even when they earn consistently. The good news is that mortgages for contractors are available in the […]
Can Limited Company Directors Get a Mortgage Easily?
Getting a mortgage as a limited company director is entirely possible, but the application may require more preparation than it would for someone receiving a straightforward monthly salary. Directors often take income through a combination of salary and dividends. Some also leave profits within the business rather than withdrawing everything personally. As lenders assess these […]
Can Directors Use Salary and Dividends for Mortgage Affordability?
Yes, company directors can often use a combination of salary and dividends for mortgage affordability. However, directors are frequently assessed differently from standard employees. The lender may examine not only the income paid to you personally but also your shareholding, company accounts, recent performance and whether your dividends appear sustainable. Understanding these requirements before applying […]
How Many Years of Accounts Do I Need for a Mortgage?
Applying for a mortgage in the UK can feel overwhelming, especially if you are self-employed, a company director, or running your own business. One of the most common questions applicants ask is: “How many years of accounts do I need for a mortgage?” In most cases, mortgage lenders may ask self-employed applicants for two to […]