Mortgages for the self-employed
It is more difficult to obtain a mortgage if you are self-employed. Most lenders will expect to see the last two years of your audited accounts that have been checked by HMRC. You can request a statement, form SA 302 from HMRC that details your taxable income and is accepted by most lenders as proof of your earnings.
Since the credit crunch the criteria surrounding lending to self-employed individuals has been tightened by most lenders. It is possible that a lender will want to see evidence of projected income into the future before they agree to lend you money for a mortgage.
- Clydesdale and Yorkshire Banks bring in lower rate mortgages
- HSBC and Yorkshire BS pull out of interest-only mortgages
- Metro Bank cuts rates on two-year fix and tracker mortgages
- Accord cut rates on fixed-rate mortgages for FTB's
- Self-employed mortgage holders paying 2% too much
- The best types of mortgages for different buyers
- First Direct launch three new best-buy fixed rate mortgages
- Nationwide pulls interest-only mortgages for new borrowing
- FCA warns on interest-only mortgage "ticking timebomb"
- Barclays cut rates on fixed rate mortgages