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 .

Am I Classed As Self Employed?

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:

• Are a sole trader (you are the sole owner of a none limited business) e.g. Mobile hairdresser, local shop owner, window cleaner etc.
• You are in a partnership (there are 2 or more equal owners) e.g. Solicitors, estate agents etc.
• You own a significant percentage of a limited company, this varies so check with our advisers
• You are a contract or agency worker (sometimes even if you receive payslips from an umbrella company)

How To Get A Mortgage If You Are Self Employed.

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:

• Keep your business accounts up to date. Your most recent should be no older than 18 months.
• If possible try to make sure as much income as possible is easy to see regularly going into your accounts etc.
• It can often help to have your SA302s (tax documents for self employed) ready before applying.
• If you are using an accountant make sure that they are certified or chartered.

Self Employed Mortgage Calculator

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.

Potential Benefits Of Coming To A Mortgage Broker

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.

Self Employed Mortgage With Bad Credit

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.

Mortgages For Self Employed With 1 Years Accounts

The days of self cert mortgages are over, if you are self employed you will need to be keeping accounts to ensure that you are able to get a mortgage, but is one year enough? Yes in some cases 1 year accounts is enough, especially if you have a track record of good credit and can show earnings going back beyond a year. First Choice Finance are specialist mortgage providers and can help you arrange a mortgage, contact us to talk to a qualified mortgage adviser.

Mortgage For Self Employed