Self Employed Mortgages Chelmsford

Sole Traders.
Limited Companies.
Partnerships.
Contractors.
Only 1 Years Accounts.
Over 600+ Great Reviews.

Speak to an Expert

I confirm that I have read and consent to my personal information being processed in accordance with The Money Hub's Privacy Policy. I also confirm that I have read The Money Hub’s E-Marketing to Customers and consent for The Money Hub to market to me by email. On receipt of this enquiry we will contact you to discuss your requirements.

Self Employed Mortgages Chelmsford

If you live in Chelmsford in the heart of Essex and want to know more about what mortgages are available to people who are self employed you are at the right place.


How much can I borrow?

This is one of the most common questions that we get asked. To obtain a self employed mortgage you will need to provide evidence of your income which is shown through your tax calculations and/or your accounts. Lets break this down further based upon the company structure:

  • Sole Trader - To prove your income you will need to provide a copy of your accounts which will show the turnover, expenses and your Net Profit. The Net Profit figure is your income and you will pay income tax based upon this figure.
  • Limited Company - Your company accounts will show the turnover, expenses and the net profit the company made, however most lenders will want to see evidence of what income you took from the company (salary & dividends) and this is evidenced through your tax return.

As a guide lenders will lend around 4.5x your income (Net profit if Sole Trader or if LTD company the income on your personal tax calculations). Other factors also affect the borrowing amount such as:

  • Term of the mortgage.
  • Financial dependants such as children/partner.
  • Credit Commitments such as loans &/or credit cards.
  • Credit Profile – if you have bad credit registered and have a low credit score.

The best way to establish how much you can borrow is to speak to a self employed mortgage adviser who is experienced in this complex lending area.

Want to have a chat?

Speak to one of our experts...

Why Clients use the Money Hub

Hundreds of
5 Star Reviews

Specialist
Advisers

Hundreds of
Mortgages Arranged

Your Data
is Safe

What our Customers think about us

Bad Credit Mortgage FAQ's

How many years do you have to be self employed to get a mortgage?
You will have to be able to produce at least 1 years accounts. Most high street lenders require 2-3 years worth of accounts however a select few will accept 1 years accounts.
Who is the best mortgage lender for self employed?
Most lenders will be happy to lend to either employed or self employed applicants, however each lender has their own criteria which you will have to qualify for. This is where obtaining a mortgage through a broker who is experienced with Self employed applicants is really helpful.
Self Employed Mortgages Chelmsford

Product Name: Mortgages

Product Description: Self Employed Mortgages Chelmsford

  • Rating
5

Joe

Gary has been brilliant throughout the whole process. Very knowledgeable, helpful and efficient. The service provided as a whole, has been excellent, 10/10.