Lenders perceive self employed applicants as higher risk due to irregular income patterns and the potential for business volatility.
Lenders have different criteria for self employed applicants and some require a larger deposit.
Evidencing your income when you are self employed is not as straight forward and lenders normally want evidence of income over a longer period of time than employed applicants. This may include SA302 forms, tax returns, and business accounts.
Presenting this documentation in a clear and organised manner can significantly enhance your chances of getting your mortgage agreed. Getting professional help will definitely increase your chances of not just getting a lender to agree to give you a mortgage, but also find the lender who will offer you the amount you want to borrow and get the best deal. Excel Mortgages have been helping self employed clients since 2008. Read our testimonials!!