Self Employed Mortgage

Self Employed Mortgage

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

Your privacy is important to us. By sending this you agree that only First Choice Finance may use these details to contact you. Any data we hold for you will be handled in accordance with our PRIVACY NOTICE.
Highest Loan To Value Purchase Mortgages And Remortgages - Low Rate Loans From £5,000 To £150,000 - Release Your Equity With An Equity Release Plan
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 ouron line enquiry form and we will call you .

Am I Classed As Self Employed?

Self Employed Mortgage 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

Video transcript

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 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.

Mortgage Advice For Self Employed

If you are self employed you may find it more difficult finding a mortgage, First Choice Finance have many mortgage plans for the self employed and an experienced mortgage adviser will help you find a mortgage to suit your individual needs. Enquire Online or call to receive a free customised mortgage quote.

Advice On Re-Mortgages
Get no obligation help & advice when remortgaging, a fully qualified mortgage adviser will give you information and advice on the mortgages available to you and help you through the remortgaging process. Many freelancers, self-employed people and independent contractors have a harder time to find a mortgage plan because the yardstick for approving funding is often higher than people who are employed, this is because most people who are employed have a set salary and wage slips allowing them to easily prove their income. The self-employed and freelancers are required to submit their accounts and often will see variations in their monthly incomings.

Finding the right lender

For self-employed or freelancers here at First Choice Finance we specialize in finding a mortgage deal, with mortgage providers who specialize in helping the self-employed buy a property or remortgage their current property. As well as residential mortgages some self-employed people need to raise money for their business, sometimes on a business property this is known as a commercial property. Other types of mortgages include buy to let mortgages this is a mortgage taken out on a rental property.

What to look for when you take out a mortgage?
If you take out a mortgage, you should be aware of what is involved in taking out a mortgage. Mortgages are used for long-term financing. How much money you can borrow on a mortgage depends on a number of factors, one of the primarily purposes on the value of the property to which the mortgage is to be attached to, along with the LTV of the mortgage. Another important aspect is your credit profile, if you have missed mortgage payments on your mortgage or other existing debts, or if you have CCJ`s then this will impact on your credit profile and reduce the chances of you getting approved for a mortgage or may result in increased costs of finance, whatever the situation we will give you a qualified mortgage adviser who will give you the best deal from our plan that suits your circumstances,

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to

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. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.