Being self-employed doesn’t mean you can’t be considered for a mortgage, it just means you have to provide different forms of income proof from those people that are employed by a company.
Most lenders will ask to see the most recent two years HMRC Tax calculations & Tax year overviews (SA302) but there are a few lenders that will consider 1 year, so although it might seem like a daunting process you can still be considered for a mortgage. Contact us to discuss your situation & we will explain your options & help take the headache out of it for you.
Some people work on a contracting basis & presume getting a mortgage will be near impossible but this isn’t the case. You may choose to work on a fixed term contracting basis & move from one company to another once the contract ends. This is common practice for many professionals. However, there are lenders that will look at your current contract, past contract & the likelihood of being offered a new contract to make a lending decision, so get in touch with us today to discuss the many mortgage options available to you.
CONSTRUCTION INDUSTRY SCHEME
Here at Ivy mortgages we specialise in helping trades people who work on the CIS contracting scheme help to find a mortgage. If you are one of these people, it might feel like your work situation is less than ideal when it comes to sourcing a mortgage because you work variable hours each week & you receive payslips yet you are classed as self-employed & have to pay your own tax to HMRC, so don’t know where to start with the process of finding a mortgage & buying a house. However, we understand your work situation & can source mortgage lenders that understand it too.