Self Employed Loans

If you are Self Employed and looking to take out a loan for home improvements, debt consolidation or for business reasons we have lenders that can help.

Our panel of lenders can provide Self Employed loans to clients that have been trading a minimum of 1 year and if you have a good or bad credit rating our advisers can help find you a loan.

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Best Mortgage Lenders For Self Employed

It is possible to be approved for a mortgage solely on self-employment income. If you can demonstrate sufficient, stable income and good credit to support the loan, a co-signer with a W-2 is not necessary. However, there are situations when a co-signer is useful in mortgage approval for the self-employed.

In these cautious times, banks are increasingly wary of lending to anyone without a solid financial track record and that applies especially if they are self-employed. However, as the number of self-employed people rises, lenders realise that there is an expanding market which needs to be served. So although it may be harder to get a personal loan if you are self-employed, it is not impossible.


Use your self-employed loan for almost any purpose

Self-employed loans can be used for almost any purpose. Whether you need to make some home improvements, buy a new car, or pay for school or university costs, it could help.

Perhaps you need a bit of extra help with your business? That could be buying new office equipment, or a van to help you expand - a self-employed loan could help you do this.


Self-employed loans

There are millions of self-employed people across the UK and working for yourself has lots of benefits. You are your own boss, you have the freedom to fit your work around your family, you might be able to work from home.

However, it has its disadvantages too. For example, finding a good deal on a loan can be a difficult task. That is because some lenders may consider you more of a risk to lend to, as your income could be classed as unstable. This means they may be unprepared to lend to you, or borrowing from them could be more expensive.

Whether you are a contractor, sole trader or run your own small business, a self-employed loan could help you borrow, so be sure to get a self-employed loan quote.

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What to Expect from The Money Hub

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your loan

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your loan being accepted

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Self Employed Loan FAQ's

Can you get a mortgage being self-employed?
It is possible to be approved for a mortgage solely on self-employment income. If you can demonstrate sufficient, stable income and good credit to support the loan, a co-signer with a W-2 is not necessary. However, there are situations when a co-signer is useful in mortgage approval for the self-employed. In these cautious times, banks are increasingly wary of lending to anyone without a solid financial track record and that applies especially if they are self-employed. However, as the number of self-employed people rises, lenders realise that there is an expanding market which needs to be served. So although it may be harder to get a personal loan if you are self-employed, it is not impossible.
I have been rejected by other lenders in the past for a self-employed loan, can I still apply?
Just because you have been rejected by one lender, it does not necessarily mean you will be rejected by another. Each lender has their own acceptance criteria and some specialise in helping the self-employed and those with poor credit. We would not recommend applying for lots of loans at once as each application leaves a mark on your credit score.
How does a self-employed loan work?
As you are Self Employed you will be required to provide specific documents to prove you earnings. If you are a Sole Trader or a Limited Company you will be required to prove your income by providing at least the most recent tax year tax calculations and tax overviews or Accounts. A major factor in all loans, whether you are a Self Employed or Employed applicant, is to make sure the loan is affordable over the loan term.
Self Employed Loans

Product Name: Mortgages

Product Description: Self Employed Loans

  • Rating
5

Kavita

Gary has been great from the start, very professional and friendly. this was my first commercial finance and he answered all of my questions no matter how small & explained everything very well, for me to understand the whole process. I would definitely recommend TMH & if needed use their services again.