All Types Of Self Employed Clients Considered
Mortgage Plans Specifically For Self Employed & Contractors
Expert Knowledge And Advice For Self Employed Mortgages
All Circumstances Considered & All Quotes Are Free
There are probably now more people who class themselves as self employed than in recent years. Ranging from start up businesses, to builders and the one man and his van, through to directors of a company, many of these still want to purchase a new property, remortgage to release funds or move to another house. Here at First Choice Finance we have noticed an increase in the self employed mortgage applications and our advisers have the necessary knowledge and expertise to find our self employed clients a mortgage plan just as we have for our employed customers, always trying to suit their individual needs and requirements.
It is no secret that trying to get a mortgage as a self employed person can be tricky at times. For example if you are employed it is fairly easy to prove your income on a month to month basis. However, if you are self-employed it isn`t quite as straight forward as just hunting down a few payslips. The income isn`t the only hoop we have to jump through but it is considered one of the most important issues for a lender but you will be surprised at just how easy it can be to get the right information sorted and therefore realise the mortgage or remortgage you want. If you would like to find out the income that is required for your self employed mortgage or would just like a free no obligation quotation call us on 0800 298 3000 (landline) 033 003 1505 (mobile) or spend a minute or two on our on line enquiry form and we will call you .
If you are self employed you will need to prove the income that you declaring. Do you fall under this bracket? Many people that come to us are unsure if there job does class them as self employed and they need to prove income or in fact if they are employed and instead it is the payslips that they need to find. Although it may seem clear to some of us and our profession`s, there can be some distinct grey areas, especially when it comes to a mortgage lender`s criteria. If you read on we can clear a few things up.
You are generally classed as self employed if you:
Here at First Choice we suggest a few tips to our prospective self employed mortgage clients in order to give an application the best chance of securing a suitable self employed mortgage plan:
If you are a self employed person, in the midst running your own business you will know the importance, more than most of a tight budgeting regime for your finances. An efficient and cost effective company is often a good one and your personal finances will benefit from the same stand point. Take a look at our calculators tab to get a better idea of how much a self employed mortgage might cost you.
Unlike the times of self certified mortgages, getting a mortgage if you are self employed is no longer quite as straight forward. In this instance, expert advice can be crucial. As a reputable broker we can look around our market for you, saving you time and hopefully money as our advisers will know the lenders most likely to accept your individual self employed situation.
If you have incurred some bad credit along the way then our long term experience and wide panel may still enable you to obtain a mortgage or remortgage. County Court Judgements (ccj`s), credit defaults and missed payments, as well as loan or mortgage arrears are common poor credit issues we have come across and although your options will be more limited, as you would expect, you might be surprised what is out there when you know where to look. Talk to someone who can help you discover what options are available for you today.
Obtaining a mortgage for self-employed people may not prove to be as straight forward as for people in full-time employment, but First Choice Finance can identify the most suitable option to help sole traders, company directors and contractors get their foot on, or move up the property ladder.
If you are a self employed landlord we also are able to get buy to let mortgages and remortgages for the self employed, to expand your portfolio, enhance your tenanted homes or start fresh as a new landlord.
Office for National Statistics figures show that the number of self-employed workers in the UK has gone up by ten per cent since the start of the financial crisis, and they now make up a sizeable 14 per cent of the entire British workforce.
With this in mind, you`d think that more mortgage products would be available for them to make a home purchase. In some cases this is true. but in reality, many lenders are still being stricter with all of their products for both employed and self employed, in order to try and avoid a repeat of the collapse of 2008 / 2009.
This can prove to be problematic when the self-employed are looking for a mortgage, as they may not be able to show a consistent history of improvement, while they may also be unable to convince lenders that they have a steady stream of income in the future.
First Choice Finance can help because we have have longevity, having been established since 1988 there are not many scenarios we have not seen, nor many mortgage plans we are not aware of, so by choosing us you will have a solid team behind you.
Even if a mortgage turns out not to be the way forward due to early repayment charges on your current mortgage, we also have access to secured home loans, which do not affect your existing first charge or mortgage arrangement.
Discover more about mortgages for self-employed people at firstchoicefinance.co.uk or by calling us on 0333 003 1505 from a mobile or 0800 298 3000 from a landline for a friendly no obligation conversation about the options we have for you.
Mortgages & Remortgages
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.