We specialise in offering tailored mortgage advice to the self-employed and work closely with lenders and product providers to ensure that you have access to a comprehensive range of mortgage products for first charge mortgages only. One advantage is that we do not charge our clients a mortgage fee (we receive commission from mortgage lenders or insurance providers for arranging mortgage and protection requirements on your behalf). Many other mortgage brokers charge direct fees.
If you are self-employed, one lender will assess your income quite differently to another. They will, as a result, be willing to lend you quite different amounts, which may make a significant difference to your plans. We will take the time needed to understand your plans and will use our expert knowledge of how different lenders will assess your self-employed income to identify and secure the right mortgage for you.
Whatever your self-employed situation, we are ready and able to help.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
WHAT WE CAN DO FOR YOU
We will provide you with a personalised service to help secure a mortgage that suits your needs. This is how Rothamsted Financial Services Ltd have always worked and it is how we have built our reputation. We will meet with you, discuss your circumstances and aspirations and then will use our expertise to find the right mortgage for you.
If you are self-employed, either as a sole trader, part of a partnership or if you have a limited company then lenders will use a range of approaches to assess your income. Different lenders will want to see certain documentation, whether this be your personal tax return or your full accounts, in order for you to demonstrate your income to them. From one lender to the next, this documentation will also often be interpreted differently, as they focus on one aspect of another to decide whether to lend. By meeting with you and understanding your circumstances and how your income is structured through your business, we will be able to match you with the most appropriate lender, and secure the right mortgage for you.
We know how busy you are so we will make the process as quick, easy and stress free as possible. We will be available to you not only in person but over the phone, by email or by post. Unlike most mortgage brokers we charge none of the usual broker fees. Lenders will pay us for the work we do in arranging your mortgage.
We will help you:
- understand how much you can borrow
- understand how much you will repay
- by organising your mortgage on your behalf
- if you are a first time buyer
- secure a buy-to-let mortgage if you are investing in property
- undertake the increasingly popular self-build process
- take advantage of the help to buy scheme
- whatever your field of work or wherever you are working in the world
MORTGAGE DEALS MAY NOT BE AVAILABLE AND LENDING IS SUBJECT TO INDIVIDUAL CIRCUMSTANCES.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BUY TO LET MORTGAGE
HOW WILL YOUR INCOME BE ASSESED IF YOU ARE SELF-EMPLOYED?
Lenders will assess your employment status taking into account a number of considerations. Lenders will have differing understandings of whether you are self-employed, depending on the percentage of shares you own in a company, for example. If you are considered to be self-employed, lenders will often assess your income differently and ask for different proofs of income, covering a varying number of years. The range of documentation that lenders will consider, in assessing whether to lend to you, may include:
- Personal tax returns (SA302s)
- Tax year overviews
- Business accounts, signed by an accountant
- Accountants’ certificates
- Bank statements
Lenders will look at different aspects of these in order to decide what your income is, for mortgage lending purposes. If you are a sole trader or are part of a partnership, then lenders will often assess your income as shown in your SA302s. If you have a limited company, lenders may assess your income based on a combination of your salary and dividends you receive, your net profit before tax, net profit after tax or retained profit. In order to work out which lender will be best for you, we will need to review your financial records and from that point will be able to work out which lender will assess your income in a way that will secure you the mortgage most suited to your circumstances.
Because of our experience and expertise in helping self-employed clients and because of our knowledge of what different lenders will base their lending decision on, we are in a position to secure for you the best mortgage for your circumstances.
Please contact us, so that we can start helping you secure the right mortgage for you.