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Self Employed Mortgages

Self Employed Mortgages with Manchester Money
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Self Employed Mortgages Manchester

Last updated: 15th February 2024

At Manchester Money we understand how difficult it can be to be self employed and how little spare time you can have. This is where we can help.

As independent mortgage advisers we have access to the whole of the market so can advise which product will be best for you saving you the time and hassle of approaching multiple lenders, whether it be a first time mortgage or re-mortgage.

With years of experience helping self employed individuals we know which lenders to approach, what information they require and who will be able to offer the best rates. With specialist knowledge of the local area, dedicated point of contact and personal service we make the whole process as simple as possible from start to completion. Contact us today to get the ball rolling.

Self Employed Mortgages We can help with:

  • Limited Company Director Mortgages: These mortgages can help directors purchase properties for either personal or business use. Here are some key considerations for Limited Company Director mortgages, loan-to-value ratio, income verification, company structure, and personal credit history, as these can impact the terms and conditions of the loan.
  • Contractor & Consultant Mortgages: There are many products available to contractors and consultants which are specifically designed to meet your needs. Because you’re probably paid on a daily or weekly rate, you won’t have a salary or the three years’ worth of accounts for a lender to see. At Manchester Money we have specialist advisors who can help you through every step of the way.
  • Sole Trader & Partnership Mortgages: As the economy changes, lots more people are turning to self-employment. As such, when you’re registered as self-employed. you’re probably unsure where to turn when it comes to arranging a mortgage. 
  • Professional Mortgages: Manchester Money can offer advice and wisdom for all types of professional mortgage. So if you are a Doctor, GP, Teacher, Accountant, Architect, Civil Servant or Solicitor, please get in touch with us and we can talk you through all the options available to you in more detail. 
  • Subcontractor & CIS Worker Mortgages: As a construction industry individual looking for a mortgage, you’ve no doubt come to realise that not all lenders do in fact offer CIS scheme mortgages. Manchester Money have your best interests at heart and within our repertoire, are  a number of lenders who are willing to accept an application.
  • Freelancer Mortgages: At Manchester Money we can help, whether you’re a copywriter, journalist, author, illustrator, marketer, web-developer plus many, many other freelancing professions.
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Frequently Asked Questions on Self Employed Mortgages

How much money can I borrow being self employed? – As a general guide, you can usually borrow between 4 and 5 times your annual income, with some specialist lenders offering a higher multiple. The key is to find the right lender for you. With access to the whole of the market we can find the correct self employed mortgage for you.

Is it harder to get a self employed mortgage? – Securing a mortgage when you are self employed can be a little more complicated but with the correct paperwork and good advice it does not have to be too difficult.

What is used to calculate my income for a self employed mortgage? – Most lenders will usually use your salary and dividends to calculate your income and verify this from your full accounts or SA302 year end tax calculations. There are also options to use the retained profit that is within the business, so if this is higher than you show as paid income, we can look at using that to increase affordability.

How many years trading do I need before I can get a self employed mortgage? – Most lenders ask for 3 years accounts but we can help with just 2 or even 1 year’s accounts.

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Benefits of Working with Manchester Money

Specialist in Manchester area: We have offices located in Manchester City Centre, so we are ideally located to help self employed people looking for a mortgage or to re-mortgage in whole of Greater Manchester, including Lancashire and Cheshire, including Bolton, Preston, Warrington and Chester.

We don’t pass leads to another broker: All mortgage applications are handled locally by our dedicated team of Mortgage Advisers at our Manchester Office. 

Personal Service: Our experts take the time to understand the complexity of your mortgage needs and income streams. We’re with you every step of the way to help you get the right self employed mortgage. 

Dedicated point of contact: With Manchester Money you have a dedicated point of contact who will manage your application from start to finish saving you time. 

Face to face meetings: Taking on a mortgage is most likely the biggest financial commitment you will make, so unlike other mortgage brokers we are always available to meet in person face to face and update you on your mortgage application.

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