Self-Employed Mortgages

Being self-employed has become an increasingly popular approach to working over the last few years. There are now large numbers of self-employed people wanting to borrow, and many of these need that extra bit of support to help them realise their dreams.

 

At Furness for Intermediaries, we understand that self-employment comes in many shapes and sizes. Some clients will be sole traders, some will trade through a partnership and others will operate within a structure such as a limited company. Each of these requires a different approach to the assessment of income and affordability.

 

We recognise that unlike most employed positions, your client’s income will almost inevitably fluctuate and that some of it may not be drawn from the business. We also understand that there is not a standard approach to accounting, and accountants can show the income and the strength of the business in many ways.

 

We believe that every self-employed applicant deserves to be assessed in a way which considers the unique nature of their business. To do this, we have a team of skilled underwriters who over many years have built up the experience to assess all types of self-employment. We do not take a ‘tick-box’ approach, and we can work with accountants to really understand your clients business.

 

If you have a self-employed client then we would love to talk to you about their case. If we can assist, then you will be able to choose from any product in our product range, depending on the application’s Loan to Value.

 

Click here for details of our product range

 

The case study below demonstrates how we helped Paul to move home and is just one way which we can help if your client is self-employed.

How we helped Paul move home despite challenges with his income

Paul has been self-employed for five years running an online textile company and his wife Katie is employed as a head teacher. As their living costs are modest and Katie earns a good income, Paul only takes a low salary and minimal dividends from his limited company and has left the remaining profit in the business, however this has meant he is now struggling to get a mortgage.

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