Newly Self-Employed
Self-Employed with 1 years accounts mortgage product – exclusive
If you are newly Self-Employed, running a good business in its early stages and have one year’s accounts, we now have exclusive access to a specially designed Self-Employed Mortgage product.
Our exclusive Self-Employed Mortgage Product features:
- Mortgage underwritten on just one year’s accounts
- Lending up to 90% of purchase price or valuation
- Interest only available
- Purchase or remortgage
- Capital raising possible
- Lending up to £2.5 million
More details
The product is designed as a stepping stone to allow the newly Self-Employed to access mortgage lending whilst they build their new business into solid profitability. Once the borrower has the trading accounts to access a wide range of standard mortgage products, they are free to remortgage as our exclusive product has no early redemption penalty.
Getting accepted for a Self-Employed Mortgage
In order to be accepted for our exclusive Self-Employed Mortgage product, applicants will need:
- A minimum of one year’s accounts and one year’s projection.
- Six months bank statements showing good conduct and cash flow
The current profitability of the business is not critical – but the Lender has to be confident that the long-term future of the business is both healthy and profitable.
Unsuitable Scenarios for the Self-Employed Mortgage
We WILL NOT be able to assist with the following:
Applications where regular cash flow cannot be shown through the business
Applications from Employed persons (unless as a joint applicant)