Getting a mortgage if you're self-employed can be difficult, but that doesn't mean it's impossible

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    Getting a Self-Employed Mortgage

    As someone who is self-employed, you may believe that there aren’t as many mortgage deals out there for you, that the market is limited and you might be stuck with a deal that doesn’t suit you. This is where you’re wrong.

    In fact, self-employed borrowers have access to a wide range of mortgage products and just as much as everyone else. Find out what you can borrow, as someone who is self-employed, by giving us a call.

    Mortgage Calculator

    Please try out our mortgage calculator below to see what your mortgage repayments might look like. Please bear in mind that this is only an estimate and a guide and is not an indicator of what is available, please contact us for more information.


    Self-Employed Mortgages - The Process

    The first thing you’ll need when applying for a self-employed mortgage is evidence of your income. A lender will need to see that you have the means to repay the loan and meet all of the monthly repayments. You’ll be required to provide bank statements and tax documents, similar to those who are employed. Issues can arise at this stage as it may be difficult to prove a steady income, especially if you’ve recently become self-employed, therefore getting professional advice is essential.

    To obtain a self-employed mortgage, you’ll generally need to have at least two years of tax returns or company accounts, although with a small handful of lenders it may be possible with just one year. Some lenders may also ask for evidence of upcoming work, especially if you are a contractor, showing that you have guaranteed income in the future. At AP Mortgage Solutions, we’ll discuss everything you might need when applying for a self-employed mortgage, so there’s no need to worry.

    What Lenders Provide Self-Employed Mortgages?

    When searching for a self-employed mortgage, there are specific lenders as well as mainstream lenders who provide these kinds of loans, both of which can work with you to acquire a self-employed mortgage. Like the employed, as long as you can provide evidence of your income, you are likely to be offered a mortgage.

    There are issues and challenges that may arise during this process, but AP Mortgage Solutions can help throughout. We offer expert advice on obtaining a mortgage for the self-employed, discussing your options and the best way to secure a mortgage which is right for you. Get in touch with a member of our team for more information and find out how we can support you today.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Remortgage Downloads

    Below are some PDF files that you may find useful when considering taking remortgage

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    What is a remortgage

    We hope the remortgage video helps explain things but if you're unsure then just drop us a line and lets talk about your options

    Debt Consolidation Remortgages

    What is remortgaging for debt consolidation?

    Debt consolidation remortgaging is a way to replace your current mortgage provider and product with new terms – often changing the amount you pay each month. By remortgaging your home you can free up a lump sum, which can then be used to clear other debts such as credit card repayments, unsecured loans or other types of finance – however it should be stressed that this is not suitable for everyone and we have to do a lot of calculations to make sure it’s beneficial and you understand the implications of adding any debt to your mortgage.

    If you wanted to remortgage your home and free up a lump sum of £5,000 to pay off an outstanding credit card debt in full, you could save months of potential interest and credit card repayments, although of course it might be the case that your monthly mortgage payment rises slightly.

    On other occasions, a debt consolidation remortgage can be used to reduce your overall monthly commitments. This might be a way of reducing your financial outgoings but it almost certainly means increasing the length of term of the debts; for example lets say you have a loan that you pay monthly for 5 years, after 5 years the loan is paid off. However you could consolidate that into the mortgage but that loan amount is now being paid potentially over a much longer time frame. This can increase the overall cost of the interest you pay in total, so you have to be aware that you would be securing previously unsecured debts against your property and this in turn means that you are reducing the amount of equity you have in your home or property.

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