Discover how to ensure your self employed mortgage application has the best chance of success
For any self-employed person, getting an affordable mortgage can be tricky. But it doesn't have to be. With the right knowledge and specialist advice, sourcing a competitive mortgage deal can be surprisingly straightforward.
Here's four key things you must know before you apply...
- It's possible to maximise your borrowing potential by using your company's latest profit figures, not just your salary and dividends.
- A broker specialising in self employed mortgages can provide you with access to deals from niche lenders. Many will consider lending even if you're credit history is poor.
- Just 1 years trading history is required.
- You'll need a minimum 5% deposit. 95% LTV (loan to value) mortgages at competitive rates are entirely possible, regardless of whether you're a company director, contractor or sole trader.
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