Securing a mortgage if you’re self-employed, own a small business or work as a contractor is often seen as being difficult, but what’s the most significant barrier that you think you might come across?
To find out more about what keeps you awake at night, we carried out a week-long poll on Twitter and received an eye-opening response.
With over 1.900 votes, the number one hurdle according to the self-employed Twitter users was being able to prove income (40%), this was followed by raising a deposit (39%).
Calling all self-employed, small business owners and contractors.— Aldermore Bank (@AldermoreBank) January 12, 2018
What's your biggest barrier to securing a mortgage?
Common barriers to proving income can be:
Although a lot of high-street or mainstream lenders don’t find it cost effective to manually review applications, many specialist lenders can and do take the time to review each one.
In the case of Aldermore this means looking at the latest year's accounts, not two or three years’ worth, as well as taking things like dividends into account not just salary.
At Aldermore, we know that everyone is different and faces different challenges. Rather than being penalised for being self-employed, our experts will deal with your application on an individual basis. We offer a humanised case-by-case approach through our experienced advisers, and we pride ourselves on making the application quick and seamless.
We’re proud to be an award-winning specialist mortgage lender. So, if our way of working sounds right for you, find out more about our self-employed mortgages via our website. You might decide that discussing your individual circumstances would be more beneficial and can speak to us by calling us on: 0333 220 4339.
Mauris ante augue, fringilla non accumsan at, imperdiet vel ipsum. Nunc hendrerit, felis nec hendrerit varius, lacus leo euismod mi, a pulvinar sapien libero.