Self employed Mortgages and Remortgages: Looking for a mortgage or remortgage but have proof of income but no accounts? Mortgages for self employed, sole traders, company directors

Mortgages are subject to status and availability. You must be 18 years or over to apply for a mortgage. Your home may be repossessed if you do not keep up repayments on your mortgage.

Self employed mortgage no accounts

Whether you are employed or self employed, or even if you are not working, there are mortgages you may be eligible for. If you are struggling financially, you have various options, such as extending your mortgage term - this will allow you to reduce your monthly payments by paying your mortgage back over a longer term. Alternatively, your lender may let you reduce your monthly payments for a set period of time. (Although these payment arrangements would reduce your monthly payments now, they will increase the overall cost of your mortgage). Find out whether a broker can help by firstly completing the form.

Flexible Rate Mortgages and Fixed Interest Mortgages

Often in the first few years trading, the self employed may have no accounts or no books that will adequately show their true income for the purposes of borrowing money for a mortgage. There are good reasons for this, such as heavy expenditure in setting up a business, cashflow problems when dealing with new customers and suppliers and other initial problems that occur when starting a business. These problems can affect self employed, sole traders, people in business partnerships and company directors.

Some companies offer loans specifically to cover mortgage problems such as mortgage arrears. Loans can be expensive and in some cases secured against your home and so if the root cause of the problem has not been addressed you could be increasing your expenditure and putting your home at greater risk. We strongly recommend that you get independent advice before considering any arrangements like this. A registered broker can help you get the mortgage you need. Even with a poor financial situation or past bad credit history, there are a wide range of products from a number of mortgage lenders that will lend money to the self employed, even if:

• You have had County Court Judgements (CCJ's)
• You have a poor credit rating
• You have mortgage arrears
• You are a discharged bankrupt
• You have payment defaults
• You have been in an IVA (Individual Voluntary Arrangement)
• You've been turned down by other lenders in the past

If you remortgage (change your mortgage lender), your new mortgage may come with a product fee and it may also have different features than your current mortgage. Please ask the broker for full details about the total costs you may have to pay. Your home may be repossessed if you do not keep up repayments on your mortgage.

Remortgage to pay off debts

Looking for a self employed mortgage but have a poor credit history There are various benefits of a self employed person taling out a remortgage; for instance, extra finance raised on a remortgage could offer you a way to reduce your interest rate, pay off other high interest finance, such as credit cards, HP or car finance, or raise additional finance for home improvements such as a conservatory or a new kitchen. You could remortgage to:-

• Release equity and take advantage of the increase in the value of your home, and spend the additional amount as you wish
• Save money - move to a lower rate mortgage - ideal if your existing mortgage is coming to the end of a special rate period
• Pay off store or credit cards and spread the costs over a longer period, by consolidating them into one easy to manage monthly payment (although this may increase the total amount you repay)
• Buy out an ex-partner from your mortgage

Whether you are employed or self employed, or even if you are not working, there are mortgages you may be eligible for. If you are struggling financially, you have various options, such as extending your mortgage term - this will allow you to reduce your monthly payments by paying your mortgage back over a longer term. Alternatively, your lender may let you reduce your monthly payments for a set period of time. (Although these payment arrangements would reduce your monthly payments now, they will increase the overall cost of your mortgage). Find out whether our brokers can help by firstly completing the form.

• Borrow up to 90% of the value of your home
• Repayment terms 10 years, 15 years, 20 years, 25 years up to 35 years

Mortgages are available for people in situations such as:

• You are employed, self employed or have a poor credit history
• You have had adverse credit within the last 12 months
• You have a non-standard construction or high rise property
• You are on a Low income
• You are looking for Capital repayment or Interest only
• You have Benefit Income only

Shared ownership accepted up to 100% of the clients share

Benefits

• No upfront fees
• No obligation advice
• Competitive low interest rates

Some companies offer loans specifically to cover mortgage problems such as mortgage arrears. Loans can be expensive and in some cases secured against your home and so if the root cause of the problem has not been addressed you could be increasing your expenditure and putting your home at greater risk. We strongly recommend that you get independent advice before considering any arrangements like this. flexible mortgage. If you remortgage (change your mortgage lender), your new mortgage may come with a product fee and it may also have different features than your current mortgage. Please ask the broker for full details about the total costs you may have to pay. Your home may be repossessed if you do not keep up repayments on your mortgage.

We take your enquiry and pass it on to a registered mortgage broker who will search the market for the best mortgage to match your own individual circumstances.The mortgage broker will find the most suitable lender for your specific requirements and get back to you with the mortgage that suits your needs. Note that your current lender may charge fees when you leave. Also, legal fees may apply depending on your circumstances.

Self employed? Sole Trader?

Whether you are employed or self employed, or even if you are not working, there are mortgages you may be eligible for. If you are struggling financially, you have various options, such as extending your mortgage term - this could allow you to reduce your monthly payments, although this may result in you paying back more over th term. Alternatively, your lender may let you reduce your monthly payments for a set period of time. (Although these payment arrangements would reduce your monthly payments now, they will increase the overall cost of your mortgage). Find out whether our brokers can help by firstly completing the form. We offer:

• Your own personal adviser
• No upfront fees and no obligation advice
• Competitive low interest rates

The broker will endeavour to find the most suitable mortgage for your individual circumstances. They will do everything we can to get your mortgage paid out as quickly as possible. We believe the broker gives a first class service to clients. We hope you will be happy with the outstanding service you receive from us and our brokers. If not, please let us know and we will do our best to help with any problems you may encounter. You will never be asked for any up front fees for arranging your finances.

The broker will contact you by telephone or email to clarify any issues that they are not sure about. You are under no obligation at any time to go ahead with their advice. 

Financial Problems

If you are currently experiencing financial problems, at the same time as talking to us about your financial concerns, we recommend that you take independent debt advice to help you understand your options and manage your finances. There are a number of organisations that provide free, professional advice, such as Citizens Advice, National Debtline and StepChange Debt Charity. Depending on your circumstances, you may also be able to get help from the government.

Mortgages are subject to underwriting and criteria. Minimum age 18. UK residents only.