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As an open & honest mortgage broker in Coventry, we know that self employed applicants can often have a hard time applying for a mortgage.
Whether it’s the task of matching up with a mortgage lender’s criteria, or struggling to prove your income, we know that self-employed applicants have a much tougher time of it than regular employed applicants.
Whilst in theory it would be nice for everyone to receive the same chance at a mortgage, there are understandable reasons as to why a mortgage lender will make them jump through so many hoops. The lender needs confidence that aa self-employed applicant can keep up their monthly mortgage payments. The factors they will look at include:
Our fast & friendly mortgage advisors in Coventry will always be ready and willing to go through your case, hoping to match you up with a mortgage product that is appropriate for you as a mortgage applicant who is Self-Employed in Coventry.
We will keep you informed and supported with clear and concise guidance throughout the entire mortgage process. You’ll benefit from open & honest mortgage advice in Coventry whilst we support your application by referencing your income and years of accounts’.
As a mortgage broker in Coventry who provides self employed mortgage advice, we can search through 1000s of competitive and niche mortgage products that are tailored to self-employed mortgage applicants. Once we have found the best deal for you and you are happy with it, we can prepare for your mortgage application.
Our mortgage advisors in Coventry work every day of the week, from early until late, so that our customers have the option of an appointment at suitable times to them. Get booked in for a free mortgage appointment and we will take a look at how we are able to help.
The challenging aspect of applying for a self-employed mortgage in Coventry is providing accurate proof of income and demonstrating reliable and consistent income. Mortgage lenders will only consider taxable income.
Navigating the mortgage process can be complex, and working with a mortgage broker in Coventry can be advantageous. As an open and honest mortgage broker in Coventry, we have helped many self-employed individuals secure a mortgage in Coventry, even when they thought it was unlikely.
Let us help you get approved for a mortgage as a self employed applicant in Coventry.
Most lenders require self employed individuals in Coventry to have a minimum of two years of self employment history to apply for a mortgage. However, some mortgage lenders may only require one year of history.
Self employed mortgage applicants in Coventry are eligible for the same mortgage rates as other employed applicants. The only difference is the way mortgage lenders evaluate their income.
If you own at least 20-25% of a business, mortgage lenders in Coventry will classify you as self employed.
Contrary to popular belief, there are no specific requirements or additional barriers preventing self employed individuals from applying for a mortgage in Coventry.
We regularly work with a wide variety of self-employed mortgage customers, all of whom are in need of some expert, fast & friendly mortgage advice in Coventry.
Below we have compiled a brief but helpful selection of scenarios that we have come across speaking to self employed mortgage applicants, throughout our time as a trusted mortgage broker in Coventry & surrounding areas:
For the most part, banks are not always the best options to take if you are a self-employed mortgage applicant in Coventry. The system these banks use will all be automated. This means that regardless of how long you’ve been their customer or been paying into your account, there’s not a whole lot you can do if you’re declined.
This is where you’ll truly reap the reward of bringing a mortgage broker in Coventry on board, as we’ll be able to search thousands of deals and match you up with one that is suitable for what you are looking to achieve.
Our Customers Love Us
5.00 Rating37 Reviews
K
Excellent service and guidance all the way through the process. Leo and Lizzi were very helpful in finding me the right product.
3 months ago
Diane
Very professional and kept me informed throughout the process of securing our equity release. I would recommend them especially for those who are a little unsure of how equity release works and if it's right for them
5 months ago
Diane
Very helpful, easy to get hold of when needed! Able to answer all my questions
9 months ago
Ajay
Made the process easy and understandable, presented all possible options and advised on what would be best suited for us. Always available to answer any queries or resolve any issues that arise. Would definitely use again in the future.
1 year ago
Luke
Incredibly quick, concise and professional. Regularly kept in he loop and gained all the knowledge required to be able to buy a property. Couldn't of asked for anything more and I can't thank them enough for all the help received.
1 year ago
Carol
Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.
1 year ago
Joshua
Leo is always a pleasure to talk to. Very friendly and knowledgeable, and allows us to ask questions, no matter if we’ve asked before orbits really obvious
1 year ago
Gurjeet
Really helpful and clear.
2 years ago
Gemma
From first discussions with Tom to being passed over to Lyndsey, the whole process was easy and seamless. Everyone I have dealt with at Moneyman have been really helpful and friendly, which has helped take the stress out of applying for a...
2 years ago
Matthew
Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!
2 years ago
Susan
Very good service over the moon Wayne and Megan no there stuff
2 years ago
Dean
4 weeks and got my offer very good service from Wayne and Megan can not fault them
2 years ago
Anonymous
Great service
2 years ago
karan
Fantastic service. From start to finish I had everything clearly explained and the broker always had my best interest in mind. I highly recommend for first time buyers!
3 years ago
Anonymous
The service provided is personal and efficient. The team are willing to help and will try hard to meet tough timings to support an application. Would recommend
3 years ago
Thomas
Brilliant! Really helpful, did everything for us, explained the process clearly and made it all so easy! We wouldn't have gotten a mortgage without them!
3 years ago
Joshua
Really friendly advisors who are happy to answer any questions. Leo walked us through the entire process, and was happy to go over things to make sure we fully understood and were happy with everything.
3 years ago
Manpreet
Helen was really warm and friendly.
3 years ago
Hannah
Very helpful, very polite and knowledgeable! Would recommend to anybody
3 years ago
Mark
Charlie was thorough and informative. What we really liked is that he always asked if we understood what he was saying and would ask if we had any questions
3 years ago
Discuss your situation and mortgage goals with a dedicated mortgage advisor in Coventry.
During this appointment, your advisor will look at your tax year overview and tax calculations to work out your maximum affordability.
Our team will look through 1000s of mortgage products to find the best deal for your circumstances.
We will then find you a mortgage agreement in principle to help you back up any offers you want to make.
Once your purchase offer has been accepted, your mortgage advisor in Coventry will submit your full mortgage application and evidential documents to your lender.
Throughout the process, a dedicated case manager will keep you up to date until you receive your official mortgage offer and complete your purchase.
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.
We will also contact you about the date of renewal of your mortgage to make sure you are always on the best deal.
Follow our ‘Book Online’ form and book yourself in for a free mortgage appointment; it's never been easier to get self employed mortgage advice in Coventry.
Mortgage lending criteria can be varied depending on the mortgage lender in question, especially when you’re looking to be matched up as a self employed mortgage applicant.
Our team of open & honest mortgage advisors in Coventry will always work hard and with confidence, to make sure that you are matched up with the most suitable mortgage product that matches your needs. We aim to get our recommendation right the very first time.
Unlike many other mortgage advisors in Coventry you might find when looking for mortgage advice, our customers are always put first. Your best interests will always be at the heart of what we do, personalising our service to our customers needs.
Throughout our long served tenure as an expert mortgage broker in Coventry, we have developed a great deal of knowledge in being able to help self employed mortgage applicants from all walks of life, to achieve mortgage success.
Follow our ‘Book Online’ form and book yourself in for a free mortgage appointment; Self Employed mortgage advice in Coventry is around the corner!
We have advisors in Coventry that can take on your Self Employed mortgage case. We don’t just give you advice, we stand with you from start to finish to make use that you receive the best experience possible!
We speak to plenty of customers on a regular basis, who have perhaps found it quite challenging to approach their bank directly for a mortgage in Coventry. Some of the reasons we hear for this include, but are not limited to;
It’s always worth remembering not to approach too many lenders by yourself, as being declined multiple times can harm your credit score and even stop you getting a mortgage altogether. Book a free mortgage appointment and we will make sure you are matched up to the most suitable mortgage lenders criteria.
Most high street mortgage lenders will have their own in-house credit scoring policies when deciding on who can have a mortgage. These credit scoring policies tend to be based on the mortgage lenders own experience with mortgage applicants over their own tenure.
During their checks, they will have a look at previous mortgage repayment statistics, any historical data on repossession and other common patterns in order to determine the common denominators that are considered to be a high risk. This will save the lenders time and money, but leaves a lot of self-employed mortgage applicants without a leg to stand on.
Previously you could definitely have made a strong case for the argument that lenders were experiencing high numbers of self-employed mortgage applicants falling into arrears. On the other hand, their self-employed applicants probably also had (and still do) a trickier time applying for that mortgage than other customers.
If you’ve been doing some of your own research, you’ll probably be aware that high street lenders tend to have very strict lending criteria. Many of those mortgage lenders want to see your profits increasing over three years accounts minimum, with some basing their work off a three year average.
Whilst this doesn’t apply to every mortgage lender out there (with some only requiring one years of accounts), it is always recommended that you have more than just the one year to go off, as that will increase your mortgage options.
Read our 37 Reviews
Coventrymoneyman.com & Coventrymoneyman 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 www.register.fca.org.uk
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Coventrymoneyman.com & Coventrymoneyman 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 www.register.fca.org.uk
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