Self-Employed

If you are one of a sizeable number of workers who are either self employed or currently working on a short-term contract. Whilst you may be are financially sound, it is often difficult to prove a level of their earnings to the satisfaction of a lender.

A handful of mortgage lenders have recognised this and look to welcome customers in these situations. These are the specialist lenders who understand the needs of the self employed borrower and continually look to improve the terms and features of their mortgage products to meet the needs of the market.

Self-Certification Mortgages

Self-certification is a simple way of detailing your income as you simply self declare what you earn and the lender will not insist on seeing audited accounts. Read more›

Top Tips

1. What types of mortgage are available to me?
Most lenders offer a range of fixed and capped rates, discounts and flexible mortgages. Some offer base rate tracker mortgages, and some will give cashbacks. Chat through which deals are available for first-time buyers, and which will best suit your needs.

2. What would my monthly payments be?
Get quotes on a number of deals too see what your payments would be and whether they fit your budget. Ask for a quote on what your monthly repayments would be at 10% interest. If that would be completely beyond your means, you could be over-stretching yourself.

3. Are there any redemption penalties?
Fixed, capped and discounted deals may carry redemption penalties tying you to the lender after the end of the fixed, discounted or capped period. If there are penalties, find out how long they run for, and how much your monthly payments will be on the lender's standard variable rate. Read more tips on finding the right homeloan ››