Self Employed Mortgages in Cambridge | Mortgage Advice Cambridge

Self Employed Mortgage Advice in Cambridge

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Advice for Self Employed Mortgages in Cambridge

When you are Self Employed, unfortunately, the process can make it a little harder to get a mortgage. This is because you are applying as an individual and as a business so you will need to supply extra pieces of supportive documents to evidence your income. The lender is only trying to see whether you are reliable.

 

Our job, as a Mortgage Broker in Cambridge, is to help you prepare your Self Employed mortgage application and find you a deal that is tailored to your personal and financial situation. We will also be able to calculate how much you can borrow and check your eligibility before submitting your Self Employed application.

Self Employed Mortgage Advisors in Cambridge

At Cambridgemoneyman, we offer a free mortgage appointment with a Self Employed Mortgage Advisor in Cambridge. This advisor will specialise in helping Self Employed applicants like yourself.

 

Once we have gathered information from you regarding your personal and financial situation, your Mortgage Advisor in Cambridge will begin searching for a mortgage product that is perfect for you. We have a large panel of lenders and we can search 1000s of Self Employed deals.

 

Your advisor will present you with the mortgage deal that they have found, and then it is up to you whether you want to move forward with it or not.

Self Employed Mortgage Specialists

We have been helping Self Employed mortgage applicants for over 20 years and have developed a great understanding of the Self Employed lending criteria.

 

Our Self Employed Mortgage Specialists have access to competitive mortgage products; some of which are only accessible to Mortgage Brokers in Cambridge, like ourselves. If you approach your bank or building society and get declined due to strict lending criteria, you may need to approach a broker so that you have the chance to access these specialist Self Employed products.

We are more than happy to help you through your Self Employed journey, all you need to do is get in touch and book your free mortgage appointment.

 

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Scenarios for Self Employed Mortgages in Cambridge

We have come across many different types of mortgage scenarios when dealing with Self Employed customers. As your Self Employed Mortgage Advisor in Cambridge, we will work by your side through the whole process to ensure that you are getting the best service possible. We want to take all of the stress away.

 

Here are the most frequent scenarios that we have come across whilst helping Self Employed applicants in Cambridge:

 

  • As a Self Employed business owner, your income is combined with your salary, dividends or directors’ loan.
  • Your company is experiencing a busy business period and you require help from a Mortgage Advisor in Cambridge.
  • You prefer to keep the vast majority of your net profit within your company, as opposed to paying yourself a larger salary.
  • Your business has been trading for less than one year.
  • Even though you have a great credit score, you are unable to match the banks’ strict lending criteria.
  • You are the owner of a company, a director, a sole trader or a business partner, requiring Self Employed Mortgage Advice in Cambridge.
  • The bank is limiting how much you are able to borrow, which is less than the amount you need.
  • You have an unsteady net profit.

 

In most situations, if you are Self Employed in Cambridge, it would be best to speak with a Mortgage Advisor. Your scenario could be more complex than it seems, therefore, it is always better to get a second opinion from an expert and see whether it is possible to get a mortgage in your circumstances.

 

It is free to get a mortgage appointment in Cambridge with one of our Self Employed Mortgage Advisors. All that you have to do is book online and choose your preferred date and time.

Self Employed Mortgages in Cambridge & Bank Mortgage Advice

You will find that each bank has its own in-house credit scoring policy. They use this to determine whether you can get a mortgage with them or not. These credit scoring systems are different to those applying for a mortgage as a regular employee.

 

They will look at your current mortgage repayments (if any), any repossession information and other spending patterns, to see whether you are considered a ‘reliable’ applicant. When you are Self Employed, your lender will assess a minimum of three years’ of accounts, tax calculations and net profit.

 

It is always best to speak to a Self Employed mortgage expert before applying for different products. We will double-check everything first to make sure that you are applying for the best product for your individual situation.

Mortgage Advice for Self Employed Mortgages in Cambridge

We are very experienced with Self Employed mortgages, we have been working in the mortgage industry for over 20 years! This experience has led us to become experts in providing Mortgage Advice in Cambridge.

 

Our simple four-step service means that you get a fast and friendly mortgage advice service.

 

  1. Book your free mortgage appointment with a Mortgage Advisor in Cambridge
  2. Attend your mortgage appointment and answer some questions provided by your advisor.
  3. Make the choice to take our mortgage recommendation. This deal will be suited to your personal and financial situation.
  4. If you want to continue with us and the deal, it’s time to prepare, and then submit your mortgage application.

 

Our responsive mortgage advice team are on hand 7 days a week to make sure that you can speak to a professional at any time that you want. Whether you want a chat with your advisor early in the morning or late at night, we are available to chat!

Having Mortgage Problems?

Feel free to reach out to us if you are encountering any of the following problems; we have helped others in these situations before:

 

  1. Failed banks criteria
  2. Bank won’t lend enough
  3. Pay structure
  4. Credit score
  5. Fluctuating net profit
  6. Personal situation

 

As a Specialist Mortgage Broker in Cambridge, we are here to help you through your mortgage process from start to finish. These types of situations may require specialist help and a look-over from an expert advisor. We would be more than happy to help you get by your mortgage hurdles so don’t hesitate to get in touch.

01223 653832

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Common mortgage
questions

Firstly, you need to fill out our Fact Find to get an idea of your current personal and financial situation. Next, our team will pass over this information to your dedicated Mortgage Advisor in Cambridge, and they will keep in touch to schedule your free mortgage consultation. You will get asked a series of questions to help build up a profile; this will help them pick out a mortgage deal tailored to you.

Secondly, once the consultation is over, a credit check will carry out, and this will help you obtain an Agreement in Principle. Granted, if you are okay with everything and happy to proceed, we will then ask for some documentation to help strengthen your application.

Lastly, with your Agreement in Principle, submitted evidential documentation and a comprehensive mortgage offer that you’re happy to continue with, you can move onto the last stage – mortgage application submission!

The time scale can alter depending on the Lender but on average, an Agreement in Principle will likely last around 30-90 days.

If you’re Agreement in Principle expire, worry not. It’s an easy process to renew. Speak to one of our Mortgage Advisors in Cambridge or your current Lender to arrange a renewal of your Agreement in Principle.

You sure can! If you are wondering why someone might want a second mortgage, here are some popular situations:

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If you are looking for a second mortgage, contact our mortgage team in Cambridge today, and see how they can help you.

It may be harder for you to obtain a mortgage with past credit problems, but not impossible depending on circumstances. You may get asked to put down a larger deposit, which will vary depending on your lender.

If you are suffering from bad credit, give us a call, and our advisors will be more than happy to try and help. We have a wide variety of specialist mortgage lenders who may have the perfect mortgage deal for your financial situation.

Yes, the good news is it is possible to obtain a mortgage as a self-employed worker depending on circumstances. First. You need to produce at least one year’s accounts.

To work out the maximum mortgage amount you can borrow, Lenders will use your salary + divided, whereas others might go off your net profit.

Whether you’re applying for a mortgage or looking to remortgage, there are a few documents lenders will always want to see during the process. You will get asked to provide some evidential documents to back up your mortgage application. For example, you’ll need things like ID, bank statements, payslips.

Don’t worry if you forget any of these documents listed; your assigned Mortgage Advisor in Cambridge will run through all of this with you, so nothing gets missed.

Your free mortgage consultation in Cambridge can take approximately an hour; within the hour, we take an in-depth look into your personal and financial situation.

Once your consultation gets concluded, we will try to turn around an Agreement in Principle within 24-hours. An Agreement in Principle is essential when making an offer on a property, as estate agents and sellers often accept those who already have an AIP than those who haven’t.

The final step is to submit your mortgage application and wait for a formal mortgage offer. Usually, this will take about 2 -4 weeks – provided the process goes smoothly, and your application is relatively straightforward.

Our Mortgage Advisors in Cambridge job is to gather personal, financial and financial mortgage situation information from you during your free mortgage consultation because they need to build an in-depth understanding of your mortgage needs to try and find you the most suitable mortgage.

Once your consultation is complete, your Mortgage Advisor in Cambridge will begin searching for mortgage products on your behalf to match your personal and financial situation, saving you time and money.

We recommend you get an Agreement in principle before viewing any houses in Cambridge. Doing so may increase your chance of your offer getting accepted and will put yourself in front of other buyers who don’t have an Agreement in Principle in place.

The deposit all depends on certain factors. For example, depending on your credit history and the lender you are using, they might only require a 5% deposit of the property price.

Other factors come into play, such as if you fall into the lower credit score bracket, you may expect to put down a 10-15% deposit.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action to get to know your Self Employed situation a bit better.

Step 2

You can take some time out to browse potential properties in Cambridge.

Step 3

Make an offer on the property in Cambridge that you have your eye on – we’ll finalise your figures and help you get your best deal as a Self Employed applicant.

Step 4

Our Mortgage Advice and recommendations. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

Handy quick links

Cambridgemoneyman.com & Cambridgemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Cambridgemoneyman

Cambridgemoneyman, Nine Hills Road, Cambridge, CB2 1GE.

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