Self Employed Mortgages Liverpool
What is different when you are Self-Employed?
Whether you are employed or self-employed, the available mortgage rates and lenders are exactly the same, it is only how your income will be assessed that changes. As self-employed income is not guaranteed, mortgage lenders will look at your retrospective income to see a track record of your profit and drawings from the business, then typically average the last 2yrs figures if your profits are increasing. There are many variations on this though depending on the structure of your business and the lender you apply to for a mortgage.
Things to Consider:
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How many years have you been trading for?
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Are your accounts / tax returns up to date?
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Do you leave retained profits in your business?
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Have you recently had a change of shareholding or employment status?
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Do you have an accountant?
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Are you a sole trader, in a partnership or a Ltd company Director?
Benefits of Using J&M Green Mortgage Services:
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We have access to lenders who will assess your income in various ways such as 1yrs accounts, latest yr figures, retained profits both before and after corporation tax.
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A lot of lenders will request an accountant reference to verify your income, we can liaise with our specialist contacts at lenders to assist with this process and will guide your accountant with the form where required.
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We have dealt with in excess of 1,000 self employed mortgages over the past 20yrs so have seen all shapes and sizes of businesses and have a wealth of experience with self-employed mortgages.
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We can give you projections of your borrowing capacity based on different income scenarios so you can towards future goals and plans.
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We will carry out in depth due diligence of your companies house listing to ensure there is nothing that could pose an issue when applying for a mortgage.
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We will carry out in depth due diligence of your companies house listing to ensure there is nothing that could pose an issue when applying for a mortgage.
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If you are a specialist who works on a daily rate basis, depending on your contract and experience, we have access to lenders who will use your daily rate rather than your salary and dividends when assessing your income.
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If you are a CIS contractor through an umbrella company or taxed at source on your payslips, we may be able to use your payslips for your income rather than your end of year accounts.
Enquire Today
Evening appointments available - we are happy to work to a time that suits our clients!
Alternatively, Call us on: 01512300909 or pop in to our offices at 13 Allerton Road, Liverpool, L18 1LG