Stacey Walsh

How to Find Best Mortgage Lenders For Self Employed in the UK?

According to the usual situation, the self-employed mortgage seekers have to start struggle from the entry point of a maze. Their prime concern is to find a lender and if possible best lender to attain funds for their property purchase.

The lenders are usually reluctant towards the self-employed people as it is always difficult for them to understand their earning capacity.

Here are some fundamental issues that self-employment tag causes when a self-waged person finds mortgage lenders.

Sometimes lenders fail to understand the type of business.

The volatile monthly income creates many doubts on the income stability.

Tax-related issues give a harsh encounter to approval possibilities.

Not having the account of the required number of years is also an issue. The lender could ask for the accounts of 2 years, but maybe the applicant is a start-up and has only one year account.

Etc. Etc. Etc… the list may get longer with individual cases.

How to find the lender?

The mortgage market is a bit difficult but not impossible for the self-employed applicants. There are workable ways that can help you find the best mortgage lenders for the self-employed in the UK. Here are some of the practicable options to explore -

Talk to the people around you

Friends, family, peers, all can offer a nice piece of information and suggestion in this matter. A small conversation over coffee may change the things for a good reason. Maybe some of them have gone through the same struggle. The other business persons in your contact can tell you a lot if they have ever confronted the issues as a self-employed mortgage applicant.

The important thing is, you need to take only suggestion but never get affected with what others say. The second opinion is a precious thing to have for a correct decision, but that should not shake you from your focus.

Brokers can be your magnifying glass

Yes, it is advisable to get someone to do the hard work for you. The brokers know the market in totality, and they can always bring to you promising deals from abundance. You cannot know which one sells deals to the self-employed. Brokers filter out the related deals, and then you can get what you need.

You need to find reliable brokers to provide mortgage for self employed. They are usually those that never cause any financial burden on the fund seeker in the name of service. For example, those that take no broker fee like Shine Mortgages, usually become the choice of the buyers. Before you reach a decision, do the market research and ask to your near and dear ones about any good broking company in their knowledge.

Attract attention with a good credit score

It is something that you know already. A bad credit score person never gets the messages of loan, credit card, insurance, holiday package etc. on his mobile. Right? On the other hand, for a person with a good credit score, the whole finance industry gets restless to offer finance deals.

Why not make a payment record, a tool to catch the heed of the mortgage lenders. Make payments on time; keep the debts and debt-to-income ratio in control. Organised finances always provide a safer way to get on the property ladder. By the way, keep your personal and business finances separate.


It is not difficult to find the best mortgage deals if you include the right ways in the process. Those mentioned above can be decisive; besides, you need to be perfect on the part of your finances. A little weakness on that part may cause to the lender to reject your loan application. But why to think contrary before you try? Carry on, and do not worry as you are not asking for something impossible.

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