How many years do you have to be self employed in Coventry to be able to get a mortgage?

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.

Do applicants of a self employed mortgage in Coventry must pay higher rates?

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.

What qualifies as being self employed in Coventry?

If you own at least 20-25% of a business, mortgage lenders in Coventry will classify you as self employed.

Why is it hard to get a self employed mortgage in Coventry?

Contrary to popular belief, there are no specific requirements or additional barriers preventing self employed individuals from applying for a mortgage in Coventry.

What are other common self employed scenarios?

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: As a self-employed business owner, you have an income that is a combination of either salary, dividends or a directors’ loan. Your company is going through quite a busy period and you need the help of a trusted mortgage advisor in Coventry. You allow a large portion of your net profit to sit within your company, rather than paying yourself a much larger income. Your business has not been trading for the minimum of at least one year. Despite having a pretty great credit score, for some reason you don’t match the banks’ strict lending criteria. You are a the owner of the company, a director, a sole trader or you are the partner of a business, needing specialist self employed mortgage advice in Coventry. The bank is putting a limit on the amount you can borrow, which is not enough for what you are looking to do. You do not have a steady net profit. For the most part, banks are not always the most suitable 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.

Self Employed Mortgage Advice in Coventry

Advice for self employed mortgages in Coventry

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:

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

Self Employed Mortgage Advice in Coventry

1000s of self employed mortgage products

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 most suitable 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 initial mortgage appointment and we will take a look at how we are able to help.

I'm self employed in Coventry, how can a mortgage broker 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.

Speak to an Advisor

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.

FAQ's From Self Employed Applicants

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4.98 Rating44 Reviews

Keith

Having pursued several other avenues and been met with unsatisfactory and unhelpful responses, we randomly selected UK Moneyman to see what advice they could offer. What a great help they have been, taking time to find the right solution for us and...

1 week ago

Anonymous

Fantastic! Quick with no issues very professional will definitely use again in the future!!

1 month ago

Catherine

I loved that they were straight forward and down to earth. When money matter feel overwhelming, they came with a calm prospective. The advisors have always been relaxed and helpful, and always professional.

3 months ago

Christine

Amazing people ro work with very happy with the service

7 months ago

Mr.

The process was trouble free. I was happy with both the service and the product. I would recommend the company.

9 months ago

Leona

very good service and information provided was clear especially for someone like me who needed guidance as a first ime buyer thank you

10 months ago

Excellent service and guidance all the way through the process. Leo and Lizzi were very helpful in finding me the right product.

1 year 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

1 year ago

Diane

Very helpful, easy to get hold of when needed! Able to answer all my questions

1 year 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.

2 years 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.

2 years ago

Carol

Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.

2 years 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

2 years ago

Gurjeet

Really helpful and clear.

3 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...

3 years ago

Matthew

Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!

3 years ago

Susan

Very good service over the moon Wayne and Megan no there stuff

3 years ago

Dean

4 weeks and got my offer very good service from Wayne and Megan can not fault them

3 years ago

Anonymous

Great service

4 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!

4 years ago

Our Simple 4-Step Process

Free Initial Mortgage Appointment

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.

We Can Search 1000s of Mortgage Deals

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

Submit Your Mortgage Application

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.

Protecting You and Your Mortgage

Our service won’t just stop here. We will not only secure you the most suitable 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 most suitable deal.

Reasons to Choose us

Free Initial Mortgage Appointment

Follow our ‘Book Online’ form and book yourself in for a free initial 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.

1000s of Deals

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.

Our Service

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.

7 Days a Week

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.

Malcolm and Amy Davidson - Mortgage Advice in Newcastle

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Coventrymoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.

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Self Employed Mortgage Advice in Coventry