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Self Employed Mortgage Advice in Harrogate

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7 days a week, 8am - 10pm

01423 788895 Speak to an Advisor - It's Free!
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Self Employed Mortgage Advice in Harrogate

Speak to a mortgage expert today for tailored self employed mortgage advice in Harrogate.

Speak to an Advisor - It's Free!

Mortgage Advice for Self Employed Mortgages in Harrogate

Our team of mortgage advisors in Harrogate is dedicated to assisting you in securing a self employed mortgage product tailored to your specific situation.

Throughout the entire mortgage process, we are committed to providing comprehensive support and guidance, offering mortgage advice in Harrogate and employing every effort to enhance the likelihood of successfully obtaining your mortgage.

With access to a wide array of self employed mortgage products, our mortgage advisors in Harrogate can explore thousands of options. Once we identify the most suitable deal for you, we can initiate the preparation of your mortgage application if you choose to proceed.

Operating seven days a week to accommodate your schedule, feel free to reach out at a time that suits you best. Take advantage of our complimentary mortgage consultation, available to all self employed applicants, and get in touch with us today.

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Self Employed Mortgage Advice in Harrogate

1000s of Self Employed Mortgage Products

If you’re interested in discussing mortgage options or exploring potential future possibilities with a mortgage advisor in Harrogate, schedule your complimentary mortgage appointment online or reach out to us via phone.

Securing a mortgage can pose challenges for self employed individuals in Harrogate. Some hurdles may involve not meeting a lender’s criteria or demonstrating sufficient income to meet monthly payment obligations.

Each individual’s assessment varies. Lenders must have confidence in the financial capability of self employed applicants to manage their mortgage. Factors taken into consideration include:

  • Your salary/income
  • Your previous years of accounts
  • Business operating costs and expenses
  • Bank statements

How is my income assessed as a Self Employed applicant?

The lending criteria for self employed mortgages in Harrogate can differ among various lenders. Our mortgage advisors in Harrogate are dedicated to diligently ensuring that you are connected with the most fitting mortgage deal based on your unique circumstances.

As a trusted mortgage broker in Harrogate, are serviced to cater to our customers and their individual situations. We consistently prioritise your best interests in every aspect of our service.

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FAQ's From Self Employed Applicants

How many years on the books do I need?

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Mortgage requirements can vary among lenders, but typically, they look for a track record of at least two to three years of consistent income. This period allows lenders to assess your financial stability and the reliability of your income. However, some lenders may consider applications with a shorter history, so it’s advisable to discuss your specific situation with your mortgage broker in Harrogate.

How will a Lender assess my income?

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Lenders assess the income of self employed individuals differently than those with traditional employment. They often look at your average income over the past few years, considering factors such as tax returns, business accounts, and financial statements. Some lenders may also consider your current trading figures. It’s crucial to have well-documented and transparent financial records to provide a clear picture of your income stability and capacity to meet mortgage repayments.

I’m a Director of my own Limited Company

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Being a Director of a Limited Company is a common scenario for many self employed individuals. Lenders typically assess your income based on the salary and dividends you receive from the company. They may also consider any additional sources of income, such as bonuses. It’s important to have accurate and up-to-date accounts to demonstrate the financial health of your company. Your mortgage broker in Harrogate can help you navigate the complexities of presenting your income to lenders and finding the best mortgage options tailored to your situation.

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Our Simple 4-Step Process

Free 30-Minute Mortgage Appointment

Step 1

During this appointment, your mortgage advisor in Harrogate will look at your assessment to work out your maximum affordability and provide you with an agreement in principle.

We Can Search 1000s of Mortgage Deals

Step 2

Our team will look through 1000s of mortgage products to find the most suitable deal for your circumstances.

Submit Your Mortgage Application

Step 3

Once your purchase offer has been accepted, your mortgage advisor in Harrogate will submit your full mortgage application and evidential documents to your lender.

Protecting You and Your Mortgage

Step 4

Our service won't just stop here. We will not only secure you the best mortgage deal, we will also recommend relevant insurance to protect you.

Reasons to Choose us

Free Mortgage Appointment

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Speaking to a mortgage broker in Harrogate like ourselves with be very beneficial as we will be by your side during the entire process. We are used to dealing with complex mortgage situations. Get in touch today for your free mortgage consultation, and let’s book you in to speak to a mortgage advisor in Harrogate today.

1000s of Deals

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They use their expert knowledge to try and find solutions for self employed applicants who need help with their mortgage. We are able to use our mortgage market expertise to find you the most suitable mortgage for your circumstances.

Our Service

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Customers are the heart of this company. Throughout our many years within the industry, our mortgage advisors in Harrogate have experience helping limited company owners, sole traders, and partners that receive a salary, dividends or a mixture of both.

7 Days a Week

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We are proud to provide a tailor-like service to the customer in question. We work with the customer's best interests at heart, which is why we are here til late to answer any mortgage questions you may have. Each lender has their lending criteria for self employed applicants. With the help of an expert mortgage broker in Harrogate by your side, our advisors will work hard to find you the most suitable lender for your circumstances.  

Malcolm and Amy Davidson - Mortgage Advice in Harrogate

We Search 1000s of Self Employed Mortgages in Harrogate

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Common Self Employed Mortgage Scenarios

Self Employed Customers & Bank Mortgage Advice

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Many mainstream lenders employ their own internal credit scoring policies to facilitate mortgage approvals for customers. The majority of these lenders enforce stringent criteria, often requiring a minimum of three years of steadily increasing profits, with some calculating a three-year average.

Lenders assess factors such as past mortgage repayment records, repossession data, and other common patterns to identify individuals deemed risky for lending. While this approach streamlines the lending process and saves time and resources for the lender, it often leaves self employed applicants struggling to attain their mortgage objectives.

Historically, self employed applicants may have faced a higher likelihood of falling into arrears compared to their employed counterparts. However, it’s important to note that employed applicants typically encountered fewer obstacles in meeting the lender’s strict criteria.

It is common to observe that the majority of mainstream lenders maintain rigorous criteria, with many requiring a three-year track record of increasing profits, and some calculating an average over this period.

Having Mortgage Problems?

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We’ve conversed with numerous self employed individuals who have faced direct rejection from their bank when applying for a mortgage. Obtaining a mortgage can indeed pose challenges for the self employed, but it shouldn’t be an insurmountable hurdle. Here are some reasons why other self employed applicants may have been rejected by their banks:

– Non-compliance with the bank’s criteria

– Fluctuations in net profit

– Personal circumstances

– Insufficient lending amount approved by the bank

– Complex pay structures

– Credit score issues

It is advisable to refrain from independently approaching multiple lenders, especially if you are unfamiliar with their specific lending criteria. Such actions could negatively impact your credit score, further diminishing your chances of securing a mortgage.

Self Employed Applicant Scenarios

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As mortgage brokers in Harrogate, we have collaborated with numerous self employed mortgage customers, all seeking transparent and candid mortgage advice in Harrogate.

Our mortgage advisors in Harrogate have navigated various self employed applications, addressing diverse scenarios. Here are some examples of the situations our advisors are accustomed to handling:

– If you’re a business owner, your income may comprise a combination of salary, dividends, or a director’s loan.

– If your company is facing a challenging business period, our mortgage advisors in Harrogate can guide the mortgage process.

– If you tend to retain most of your net profit in your company rather than drawing a larger salary for yourself.

– If your business hasn’t been trading for more than one year.

– Despite having a good credit score, you might not align with the banks’ lending criteria for reasons unknown.

– If you are a company owner, director, sole trader, or business partner seeking self employed mortgage advice in Harrogate.

– If the bank restricts the borrowing amount, and you need to borrow more than their limit.

– If your net profit exhibits fluctuations.

Not everyone secures mortgage approval from their bank. Unfortunately, these banks often rely on automated systems, and even longstanding customers may face rejection.

By engaging a reliable mortgage broker in Harrogate, we can alleviate the stress. Our team of mortgage advisors in Harrogate can sift through a multitude of deals to find a suitable lender matching your unique circumstances.

Free Mortgage Guides & Harrogatemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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