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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:

Mortgage Lenders 007

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.

What our customers say

Common mortgage
questions

Your free mortgage consultation in Scunthorpe will last around one hour. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to proceed with the mortgage.

As your mortgage broker in Scunthorpe, we carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for you. A credit check is then required for an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

To avoid possible disappointment, we recommend you obtain an Agreement in Principle before you begin viewing properties in Scunthorpe. At the very latest you should obtain one prior to making an offer to assist your bargaining position.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. If your Agreement in Principle expires it can always be refreshed.

It may be possible to get a second mortgage on your home for things like debt consolidation or Home Improvements. It may also be possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit when purchasing a house in Scunthorpe with High Street Lenders is typically 5%. This can be higher if you have had previous credit problems.

If you have had credit problems you can still get a mortgage but you may possibly be required to put down a higher deposit than usual, perhaps 15% of the property purchase price.

Once you have submitted at least one year’s accounts, you are able to get a mortgage. Most Lenders use your salary plus dividend to calculate the maximum mortgage, whereas others are known to go off your net profit.

It’s usually three payslips for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and 3 months’ bank statements.

Our free consultation typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours. A formal mortgage offer takes about three weeks on average.

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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.

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Scunthorpemoneyman.com & Scunthorpemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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