We Specialise In Self-Employed Mortgages
Boost Your Borrowing
Borrow up to 6 times your latest year figures. We have access to specialist income boosting lenders not available to the general public.
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No matter if you are a limited company director, sole trader, partner, freelancer, landlord; we have the right mortgage solution for you.
Keep Money In The Bank
You only need a 5% deposit (or equity if a remortgage). This will allow you keep back money for home improvements, debt consolidation, future purchases, etc.
Self Employed Experts.
Unlike most mortgage lenders, our team understands financial accounts.
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Latest Year Figures
If there is an upward trend in income across the last few years, it makes sense to your latest year only (instead of averaging).
If you decide to keep money in the business, this can still be used in the affordability calculation.
Our lenders will consider using gross profit, instead of net profit, which will help to maximise your mortgage.
Using the latest year figure
As lenders consider a self employed person higher risk than an employed person, they need to see a consistent track record of earnings. Depending on the lender, this is often 2 or 3 years evidence of income. In their affordability calculation, an average will be taken or they will use the year with the lowest income.
For instance, if you earned the following:
2023 - £40,000
2022 - £30,000
2021 - £20,000
Normally a lender will use £20,000 (average) or £10,000 (lowest figure) when calculating how much you can borrow. However, there are lenders that will just consider the £40,000 and disregard the two previous years.
This is particularly useful when a person is trying to maximise borrowings and there is an upwards trend in income.
There is no limit to this. In theory, you can make a loss in previous years and a have a profitable latest year, and only use the latest year figure.
Self-employed income tends to fluctuate so it useful to have lenders that will just use the latest year figure, and to have lenders that will take an average if the latest year is poor.