Self Employed Contractor Mortgages
Whether you’re a tradesman or a taxi driver, a consultant or a freelancer, sometimes lending can be difficult when you’re self-employed. That’s where specialist contractor and self-employed mortgages could help.
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Have you previously encountered issues getting a loan? No problem
If you’ve previously applied for a mortgage and been rejected by your bank or a building society, or you’re worried you don’t meet ‘typical’ lending criteria because you’re self-employed, you’ve come to the right place. We can help.
We specialise in finding competitive mortgage deals for ‘out of the norm’ cases, so if:
- You haven’t been trading long
- You’d rather lenders deal with your accountant rather than a SA302
- You’re paid in a foreign currency
- You don’t pay yourself much from your successful business
- Your company has varying net profits from year to year
How is a contractor mortgage different?
As you’re self-employed, lenders may see you as a higher risk than a person with a fixed income, therefore they’re likely to ask you for more evidence of earnings than with a regular residential mortgage application. The way the lender assesses this will depend on whether you’re a sole trader, work as a partnership or own a limited company.
Income protection insurance
From short term cover for accident and sickness to long term cover should you lose your job, income protection insurance will provide you with a regular salary until you’re well enough to return to your 9 to 5.
Critical illness insurance
Critical illness insurance is cover that will pay out a lump sum should you be diagnosed with a critical illness during the term of your contract. Get protected!
A life insurance policy is a type of cover that will pay out a lump sum to your dependants should you pass away during the term of your contract. This can then be used to pay off any debts you may have and support your family after you’re gone.