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Self employed mortgages

Blackstone Financial Solutions has vast experience in arranging mortgages for our clients who are self employed and has a thorough understanding of lender requirements in this area of the market.

In the past, self employed people could access “self certification” mortgages with little or no proof of income but since lenders have had to adopt a more responsible approach to lending, this type of mortgage is no longer available. 

It really pays to have up-to-date accounts prepared by a qualified accountant or HMRC SA302 documents to prove your regular taxable income. 

This has led many self employed people to believe that it is now very difficult for them to arrange a mortgage and this is where professional advice is so important.

Your Blackstone adviser has access to lenders not available on the high street and will take a highly individualised approach to finding you the best solution for your mortgage needs.

Generally mortgage lenders will ask to see two years company accounts or Self-Assessment Tax Calculation forms (SA302’s) plus your Tax Year Overview (TYO) covering 24 trading months. SA302s and TYOs can be requested from the HMRC or via an online HMRC account. Full details can be found at www.gov.uk/sa302-tax-calculation

The SA302 is effectively a receipt from HMRC that confirms how much tax you have paid on your earnings. Other lenders may accept a certificate from a suitably qualified accountant.

We recommend that you have up-to-date accounts prepared by a fully qualified accountant to prove a regular taxable income to secure the most efficient and effective outcome.

If you haven’t been self employed for long enough to meet this criteria we work with a number of mortgage lenders who will often accept self employed borrowers with just one year’s worth of accounts if you can prove you have contracts for the future and a consistent track record of work.

There is also the option of putting down a larger deposit which often makes lenders more flexible.   

Let Blackstone help secure the mortgage you need on the terms you deserve.

Call us now on Bristol 0117 403 0097.

“It was a pleasure to deal with Khalid and a refreshing change to work with somebody who is efficient, does what he says, and delivers great support and advice. He arranged domestic and Buy to Let remortgages for me which are delivering significant benefit. I shall have no hesitation in passing on his details when the opportunity arises.” 

COLIN, BRISTOL
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