Self Employed Mortgages & Sole Traders
Many banks and building societies have tightened lending rules for self employed borrowers in recent years, meaning too many Sole Traders have faced rejection at the very first hurdle. Disheartening as it may be, there are plenty of ways to gain a mortgage or boost your chances and you don’t necessarily need a minimum of three years’ accounts!
The critical factor with any mortgage is to prove you have the income to make the repayments on the mortgage you’re applying for. Certain lenders will naturally see you as ‘riskier’ or ‘complex’ because your income fluctuates, yet others will gladly review your individual circumstances.