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Self Employed Mortgage Advice in Halifax

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7 days a week, 8am - 10pm

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Self Employed Mortgage Advice in Halifax

Speak to a mortgage expert today for tailored self employed mortgage advice in Halifax.

Speak to an Advisor - It's Free!

Mortgage Advice for Self Employed Mortgages in Halifax

Our team of mortgage advisors in Halifax is dedicated to assisting you in securing a tailored mortgage deal designed for self employed individuals, perfectly aligned with your unique circumstances.

Throughout the entire mortgage process, our unwavering commitment is to provide comprehensive support and guidance. We aim to offer expert mortgage advice in Halifax, ensuring every effort is made to enhance the likelihood of successfully securing your mortgage.

With access to a diverse range of self employed mortgage products, our mortgage advisors in Advisors diligently search through 1000’s of mortgage deals to pinpoint the one that most suitable suits your specific needs. Once the most suitable deal is identified, we initiate the process of preparing your mortgage application, should you decide to proceed.

To better accommodate your busy schedule, we operate 7 days a week. Feel free to reach out at a time that is convenient for you. Avail yourself of our complimentary free mortgage appointment, available to all self employed applicants. Contact us today to start your mortgage application journey.

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Self Employed Mortgage Advice in Halifax

1000s of Self Employed Mortgage Products

If you’re eager to explore mortgage options or consider potential future possibilities with a mortgage broker in Halifax, you can schedule your complimentary mortgage appointment online or reach out to us via phone.

Securing a mortgage poses distinctive challenges for self employed individuals in Halifax. Overcoming these challenges may involve addressing issues such as not meeting specific lender criteria or demonstrating sufficient income to cover monthly payment obligations.

Assessments for self-employed applicants are conducted on an individual basis. Lenders seek assurance regarding the financial capacity of self-employed individuals to manage their mortgages. Key factors taken into consideration include:

  • Your salary/income
  • Previous years of accounts
  • Business operating costs and expenses
  • Bank statements

How is my income assessed as a Self Employed applicant?

The criteria for self-employed mortgages in Halifax can vary among different lenders. As experts in providing mortgage advice in Halifax, we are devoted to ensuring that you are carefully matched with the most fitting mortgage deal tailored to your unique circumstances.

Being a dependable mortgage broker in Halifax, we are committed to serving our customers and addressing their individual situations. Your best interests are consistently prioritized in every aspect of our service.

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FAQ's From Self Employed Applicants

How many years on the books do I need?

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The required number of years on the books can vary among lenders, typically seeking a stable and consistent income history. While some may accept applicants with just one year of accounts, others may prefer two to three years of financial records. It’s advisable to consult with a mortgage advisor to assess your specific situation and receive guidance on the requirements of different lenders.

How will a Lender assess my income?

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Lenders typically evaluate your income by reviewing financial records such as tax returns and business accounts. For self employed individuals, they often consider the average income over a specific period, usually the past two to three years. The sustainability and reliability of your income are also factors they assess. A steady and sufficient income stream enhances your chances of qualifying for a mortgage.

I’m a Director of my own Limited Company, can I get a mortgage?

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Being a Director of a Limited Company doesn’t automatically disqualify you from obtaining a mortgage. Many lenders offer mortgages for self-employed individuals, including company directors. However, the assessment process may be more complex than for those with traditional employment. Lenders review your company’s accounts, your salary, dividends, and overall financial stability. Working with a mortgage advisor experienced in self employed mortgages can help you navigate the process and find lenders that best suit your circumstances.

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Our Simple 4-Step Process

Free 30-Minute Mortgage Appointment

Step 1

During this appointment, your mortgage advisor in Halifax will look at your assessment to work out your maximum affordability and provide you with an agreement in principle.

We Can Search 1000s of Mortgage Deals

Step 2

Our team will look through 1000s of mortgage products to find the most suitable deal for your circumstances.

Submit Your Mortgage Application

Step 3

Once your purchase offer has been accepted, your mortgage advisor in Halifax will submit your full mortgage application and evidential documents to your lender.

Protecting You and Your Mortgage

Step 4

Our service won't just stop here. We will not only secure you the best mortgage deal, we will also recommend relevant insurance to protect you.

Reasons to Choose us

Free Mortgage Appointment

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Speaking to a mortgage broker in Halifax, such as ourselves, can prove highly advantageous as we guide you through the entire process. Our expertise lies in handling intricate mortgage situations, and we invite you to reach out for a complimentary mortgage consultation. Let's schedule a meeting with a knowledgeable mortgage advisor in Halifax today.

1000s of Deals

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They use their expert knowledge to devise solutions for self-employed applicants in need of mortgage assistance. Drawing upon our profound understanding of the mortgage market, we aim to identify the most suitable mortgage tailored to your specific circumstances.

Our Service

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Customers are the heart of this company. Throughout our many years within the industry, our mortgage advisors in Halifax have successfully assisted limited company owners, sole traders, and partners receiving a salary, dividends, or a combination of both.

7 Days a Week

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We take pride in delivering a tailored service to each customer, always prioritizing their best interests. Our commitment extends to being available late to address any mortgage queries you may have. Understanding that each lender has unique criteria for self-employed applicants, our dedicated advisors, in collaboration with an expert mortgage broker in Halifax, work diligently to identify the most fitting lender for your individual circumstances.

Malcolm and Amy Davidson - Mortgage Advice in Halifax

We Search 1000s of Self Employed Mortgages in Halifax

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Common Self Employed Mortgage Scenarios

Self Employed Customers & Bank Mortgage Advice

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Most lenders typically employ strict internal credit scoring policies for mortgage approvals, often necessitating a minimum of three years of steadily increasing profits, with some calculating a three-year average. These criteria involve assessing factors like past mortgage repayment records and repossession data to identify potential lending risks.

While this streamlined approach saves time and resources for lenders, it can pose challenges for self-employed applicants striving to meet their mortgage objectives. Historically, self-employed individuals faced a higher likelihood of arrears compared to their employed counterparts. Notably, employed applicants generally encountered fewer obstacles in meeting strict lender criteria.

Having Mortgage Problems?

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Many self-employed individuals we’ve spoken to have faced direct rejection from their banks during mortgage applications. While obtaining a mortgage presents challenges for the self-employed, it shouldn’t be insurmountable. Here are reasons others may have been rejected:

  • Non-compliance with the bank’s criteria
  • Fluctuations in net profit
  • Personal circumstances
  • Insufficient lending amount approved by the bank
  • Complex pay structures
  • Credit score issues

Avoid independently approaching multiple lenders, especially if unfamiliar with their criteria. Such actions could harm your credit score, reducing your chances of securing a mortgage.

Self Employed Applicant Scenarios

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As mortgage brokers in Halifax, we’ve assisted numerous self-employed clients, providing transparent and candid mortgage advice.

Our mortgage advisors in Halifax are experienced in handling various self-employed scenarios, including:

  • Business owners with income from salary, dividends, or a director’s loan.
  • Guidance during challenging business periods.
  • Assistance for those retaining most net profit in the company.
  • Support for businesses trading for less than a year.
  • Help for individuals with good credit but not meeting bank criteria.
  • Advice for company owners, directors, sole traders, or business partners.
  • Solutions when banks restrict borrowing amounts.
  • Guidance for those experiencing fluctuations in net profit.
  • Bank rejections are common, even for longstanding customers relying on automated systems.

Engaging a mortgage broker in Halifax can ease the stress. Our team sifts through multiple deals to find a suitable lender for your unique circumstances.

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Halifaxmoneyman.com & Halifaxmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

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