Self Employed Mortgage Advice in Scunthorpe

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Discover the possibilities of Self Employed Mortgages!

 

It can sometimes seem that self-employed applicants draw the short straw when it comes to obtaining a mortgage. Having a self-employed mortgage broker in Scunthorpe by your side could prove invaluable.

 

Lending criteria vastly vary when it comes to self-employed lending criteria. Our mortgage advisors have vast knowledge of self-employed lending criteria, making sure we get you the best mortgage product and lender for your individual circumstances.

 

Having problems obtaining a mortgage? Often, clients who call have had difficulty one way or another with their bank or high street mortgage lender. This can be down to varying reason from your income structure, fluctuating net profit to simply they will not lend enough.

 

If this is the case, it is important that you do not keep trying lots of other lenders without being 100% sure of their lending criteria. As this could have a negative impact on your credit score and may harm your chances of getting a mortgage altogether.

 

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Self Employed Mortgage Scenarios
| Purchase or Remortgage Deals

  • Limited Company owners or Sole Trader mortgages
  • Income structure – i.e. dividend, salary, mixed-income, retained profit, directors loan
  • Fluctuating net profit
  • A change in personal situation
  • Contractor or Freelancer Mortgage Advice
  • Refused a mortgage from your bank? i.e. poor credit, bank won’t lend enough, lending criteria, auto-decline etc
  • Have you got an unusual or complex situation and are wanting mortgage help?

 

Why choose Scunthorpemoneyman?

If you are self-employed, often getting a mortgage can seem like an impossible task.  That is without a Professional Mortgage Advice Team on your side!  We’re here to hold your hand throughout the whole process and whatever hurdles we should meet along the way.  We’re with you from your initial enquiry right through to your completion day.

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Common mortgage
questions

Your free mortgage consultation in Scunthorpe with a dedicated advisor will last for approximately one hour. From that point, we will then recommend a mortgage for you, with no obligation to accept and proceed if you change your mind at any point.

We will carry out a Fact Find to establish your individual circumstances and needs prior to recommending the most suitable mortgage. A credit check is something that will be required for an Agreement in Principle. Once you have given all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can then be issued to you.

To avoid facing disappointment at a later stage, we recommend you obtain an Agreement in Principle before you begin any property viewings in Scunthorpe. At the very latest you should obtain one before you start making offers, as that will assist your bargaining position.

An Agreement in Principle will generally last for anywhere between 30 and 90 days depending on the mortgage lender. If your Agreement in Principle expires, your mortgage advisor in Scunthorpe can refresh this for you.

It may be possible to get a second mortgage on your home if you’re looking to work towards debt consolidation or any home improvements, as well as if you’re wanting to use it for yourself, a family member, a holiday home or a potential Buy to Let.

The minimum deposit when for a property purchase in Scunthorpe with High Street Lenders is 5%, though it can be higher if you have had prior credit problems.

If you have a recent history of credit problems, it’s not impossible for you to get a mortgage, though you may possibly be required to put down a slightly higher deposit than typically expected, perhaps 15% of the property purchase price.

The documents you will need if you are an employee are three payslips to prove income and for self employed, you will need the latest 2 years’. As well as this, you will also need proof of ID, address and 3 months’ bank statements.

A free consultation usually lasts up to an hour or so. An agreement in principle can be ready for you within 24 hours. It takes on average three weeks for a formal mortgage offer.

You will be eligible for a mortgage but only once you have submitted at least one year’s accounts. Many Lenders calculate the maximum mortgage by taking your salary plus dividend, however, others are known to go off your net profit.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action to get to know your Self Employed situation a bit better.

Step 2

You can take some time out to browse potential properties in Scunthorpe.

Step 3

Make an offer on the property in Scunthorpe that you have your eye on – we’ll finalise your figures and help you get your best deal as a Self Employed applicant.

Step 4

Our Mortgage Advice and recommendations. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

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