Self Employed Mortgage Advice – Leeds

If you’re self-employed or own your own business in Leeds or Yorkshire, Freedom Advice is here to help you through the process of applying for and obtaining a mortgage that is right for you.

As you’re probably aware, if you’re self-employed and own your own business, getting a mortgage can be a lot more difficult than for someone who is employed.

Here at Freedom Advice, we have a track record of helping business owners through the complex and often frustrating process of getting a mortgage.


What to consider if you’re searching for a self-employed mortgage

You will be classed as self employed if you own 25% of a business or more, and those in a business partnership will be classed as sole traders by lenders.

Complications can arise as business owners need to prove how much they earn during the application process, which, depending on the nature of your business, can be easier said than done.

That said, however, Freedom Advice has worked with Leeds and Yorkshire business owners for over 20 years and we have secured the best mortgages for people in a variety of situations including:

  • Company directors, sole traders, freelancers, and partners.
  • People who have been turned down for a mortgage before.
  • Self-employed people with net profit fluctuations.
  • Business owners that have been trading for less than three years.
  • Directors who are too busy to attend to a mortgage and require the process to be carried out for them.

It’s important to remember that a self-employed mortgage is calculated differently to a mortgage designed for someone that is employed.

For instance, some lenders will calculate the amount that you can borrow based on your income over a period of years, whereas others might calculate it against your previous year of trading.

Furthermore, your legal status will affect how your mortgage is calculated.

Lenders will take net profits as income for sole traders and partnerships, whereas salaries and dividends will be inspected for limited companies.

A lender can also choose to look at both the salary and the net profit of a company.

Due to the reasons identified, applying for a self-employed mortgage can often be a difficult and frustrating path to tread, which is why many Leeds business owners turn to Freedom Advice.

How Freedom Advice can help

If you’re looking to apply for a self-employed mortgage, we can help you find the best deal, assist in preparing the necessary paperwork, and guide you through the entire process.

Our mortgage advisors come with a wealth of experience and are entirely flexible in helping Leeds business owners secure self-employed mortgages.

For instance, if you’re too busy for a consultation in our offices, we’re more than happy to meet you at your place of business or at a location that is more convenient for you.

If you’re interested in applying for a self-employed loan and want to know more about how Freedom Advice can help, call us on 0113 829 3465 or fill in the contact form below to arrange a free no-obligation consultation.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.