Newly Self Employed - How can I get a Mortgage?

Posted on 11 July 2012 by duncan

Newly Self Employed - How can I get a Mortgage?

I have just sold by house and moving to a new one cost £300,000 I am putting £150,000 deposit down , but last year I formed my own company ( my contract is with the firm I have contracted with for a number of years) I am finding that its difficult to get a mortgage due to this any thoughts ??


I am not surprised that you are having trouble getting a mortgage because with only a years trading history you have no track record for lenders to base their decisions on.  However, you are still in the same line of business and if you are dealing with the same firm you used to contract with it is unlikely you took this step to take a pay cut.  A more enlightened lender would understand this and make a lending decision based more on the facts that general appearances.

At John Charcol we have established over the years a number of relationships with lenders who may not be common high street names, but who do things the old fashioned way and underwrite the risk before them and who do not rely on a generic computer model to say yes or no.  I believe that we can help you find a mortgage and you should call 0344 346 3672 straight away to speak to one of our independent consultants.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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