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Self Employed Mortgage Advice in Nottingham

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Discover the possibilities of Self Employed Mortgages!

The Self-Employed can often get the short end of the stick when it comes to mortgage deals, which is why as a specialist Mortgage Broker we hope to secure you the best mortgage for your circumstances. If you have a minimum of 1-year accounts, there is a chance you could still be eligible for a mortgage on your dream home.

 

As a company, we have great knowledge of Self-Employed lending criteria and a large number of Specialist lenders on a panel with thousands of products available to look at. Our Mortgage Advisors offer open and honest Self-Employed Mortgage Advice in Nottingham, and we will try to help all of our customers the best we can. Whether this is obtaining them the best mortgage deal on the market or giving advice on how they can help and increase their chances of getting a mortgage in the future.

How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Self Employed Scenarios

We work with all types of self-employed clients, all needing assistance with mortgages. Here are just a few of the scenarios that we are used to dealing with:

 

  • You’re a company owner, director, sole trader or business partner and in need of Self-Employed Mortgage Advice in Nottingham.
  • You have a fantastic credit score but don’t match the banks’ criteria.
  • Unsteady net profit.
  • Only been trading for one year.
  • You need to borrow more than what the bank can offer.
  • As a Self-Employed business owner, you get paid a combination of salary, dividends or directors’ loan.
  • You leave your net profit in your company.
  • Your company is going through a busy period and you need the help of an advisor throughout the process.

 

Traditionally, banks are not always very receptive when approached by their self-employed customers for mortgages. No matter how many years you have been banking with them or how much money you pay into your account on a regular basis, if their computerized lending criteria do not like your financial information, they will just say no.

Why you should a Mortgage Broker in Nottingham?

Over time, if you keep applying with multiple lenders and you still don’t match their criteria, your credit score and chances of getting a mortgage altogether could be adversely affected – It’s times like these where using a Self-Employed Mortgage Broker in Nottingham could be just what you need to reach your goal. We’re able to compare deals from multiple lenders and use our in-depth knowledge of Self-Employed lending criteria to put you with the right lender first time.

 

If you’re Self-Employed and in need of some expert Self-Employed Mortgage Advice in Nottingham get in touch with us today and make a date for your free mortgage consultation.

What our customers say

Common mortgage
questions

Your free mortgage consultation with us will last around an hour. During this consultation, your dedicated Mortgage Advisor in Nottingham will get to learn a bit more about your personal and financial situation.


Once your consultation is finished, your Mortgage Advisor in Nottingham will go away and try and find you a perfect mortgage deal tailored to your circumstances. If you love the mortgage offer that they’ve picked out and want to continue, the next step is to submit your mortgage application!

Our mortgage process consists of multiple different steps:

1. Once you get in touch, we will have you carry out our Fact Find so that we can get a bigger picture of your mortgage situation.

2. You’ll undergo your free mortgage consultation, then your dedicated Mortgage Advisor in Nottingham will begin searching for mortgage deals that are tailored to your circumstances. If we find you an offer that you are happy to proceed with, we can get the ball rolling with your mortgage application.

3. We will perform a credit check on you in order to obtain an agreement in principle. Furthermore, we will get some evidential documents from you in order to back up your mortgage application.

4. We will submit your mortgage application and wait for a formal mortgage offer to be issued.

As a Mortgage Broker in Nottingham, we always advise applicants to obtain an Agreement in Principle before viewing properties. Firstly, you’ll need an Agreement in Principle to make an offer on a property. Secondly, having one in place could put you in a position to negotiate prices.

An Agreement in Principle typically lasts for 30-90 days. This timeframe may change depending on the lender that you are using.


If your Agreement in Principle expires, you can easily renew it by getting back in touch with your Mortgage Advisor in Nottingham or your lender.

It’s possible to obtain a second mortgage; as a Mortgage Broker in Nottingham, here are the most common reasons we see for people wanting a second mortgage:

– Debt consolidation
– Home Improvements
– Buy to Let
– Other, e.g. for a Family Member, Holiday Home, etc.

High street mortgage lenders will usually ask for a minimum of a 5% deposit. This percentage may be higher depending on if you’ve had previous bad credit issues.

If you’ve had bad credit issues in the past, you may find it a little harder to get a mortgage, but that isn’t saying you still can’t get one!

Lenders may ask for a slightly higher deposit if you’ve had bad credit in the past. Some lenders may ask for a deposit of around 10-15%.

If you are able to submit at least one year’s of accounts, the more likely you are of being able to obtain a mortgage. Most of the lenders that we use look at your salary plus dividend to calculate the maximum mortgage amount. Others may go off your net profit, it all depends on the lender.

  • Photo ID (Driving license, Passport, etc.).
  • Proof of Address (Utility bills, tax bills, credit card statements, etc.).
  • Latest 3 months’ payslips & Latest P60 (employed applicants)
  • Latest 2 years’ tax calculations and corresponding overviews (self-employed applicants)
  • 3 months’ bank statement proving the deposit being built-up with an explanation for any large credits.

Your free mortgage consultation in Nottingham will usually last around an hour. Following the consultation, we can turn around an Agreement in Principle for you within 24-hours. Now it’s just the case of submitting your mortgage application. A formal offer can take around three weeks on average to come back.

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We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action to get to know your Self Employed situation a bit better.

Step 2

You can take some time out to browse potential properties in Nottingham.

Step 3

Make an offer on the property in Nottingham that you have your eye on – we’ll finalise your figures and help you get your best deal as a Self Employed applicant.

Step 4

Our Mortgage Advice and recommendations. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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Nottinghammoneyman.com & Nottinghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

© 2021 Nottinghammoneyman

Nottinghammoneyman, Gothic House, Barker Gate, Lace Market, Nottingham, NG1 1JU.

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