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.
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.
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.
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.
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 self employed mortgage appointment.
Most lenders will require you to have been working as self employed for at least 2 years before you can get a mortgage.
In some cases, you may come across mortgage lenders who only need to see one year from you.
When you are self employed, you gain access to the same types of mortgage products that you do as a first time buyer, home mover, etc. The only thing that changes during the mortgage process is how a mortgage lender evaluates your income.
Of course, your credit score and affordability will affect what sort of deals you are able to access. This applies to all types of mortgage applicants.
Our Customers Love Us
5.00 Rating3 Reviews
Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!
6 months ago
Great service, very efficient.
1 year ago
Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.
8 months ago
Great service. Would definitely recommend to people struggling to get a mortgage. Cambridgemoneyman, a huge thank you from us
2 years ago
Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.
2 years ago
Massive thank you to Malcolm and the team at Cambridgemoneyman. We were very impressed with the level of service we received. As first time buyers, we were thrilled with the mortgage rate that got recommended for our circumstances, and we will...
3 years ago
Book your free mortgage appointment with a mortgage advisor in Cambridge.
Attend your mortgage appointment and answer some questions provided by your advisor.
Make the choice to take our mortgage recommendation. This deal will be suited to your personal and financial situation.
If you want to continue with us and the deal, it's time to prepare, and then submit your mortgage application.
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.
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!
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.
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.