Self Employed Mortgage Applications

Self employed & wanting a mortgage? How to avoid rejection by lenders

More than 20% of mortgage applications from self employed applicants are rejected, one in four have been turned down more than four times

As an experienced Mortgage broker, we have dealt with countless self employed applications and knows the common pit falls where going it alone can extend and even completely halt the process. Using a mortgage broker takes the guess work and heart ache out of the process as a self-employed applicant.

There are nearly 5m self employed and many are looking for a mortgage either for a new purchase or to capitalise on the lower rates available in todays competitive market. The main reasons for rejection of applications are:

  • Irregular Income
  • Insufficient Income
  • Insufficient Proof of Current and Future Income

Take the guess work out of your mortgage application and get it done right

The way people live and work has evolved hugely in the past decade and many lenders have not kept pace with this from a proposition as well as underwriting perspective. If you don’t know what lenders to approach and what needs to be provided to them then you will likely be declined. The best way to avoid this is to work with a mortgage broker who had and knows the whole market therefore enables applications to be submitted to lenders who will more likely approve the loan.

An independent Mortgage Adviser, such as Morgan Mortgages Ltd, with extensive knowledge and experience of placing mortgages for the self employed, can quickly review the market with you, and identify a rate and deal that best suits your circumstances. The increased number of lenders and revised lending criteria mean that they can help you avoid the heartbreak of being declined and ensure that you have a mortgage tailored to your circumstances.

Next steps:

  1. Get out details of your current mortgage, or of the property that you are wanting to buy
  2. Call Morgan Mortgages Ltd for an initial conversation, free of charge
  3. They will review your current mortgage deal, along with your personal circumstances and objectives to understand how to best advise you
  4. They will make a recommendation and will deal with all of the paperwork for you

Posted Thursday February 27, 2020

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Mortgage Testimonials In Weston-Super-Mare

Mortgage Testimonials

"You can see the determination and experience they have really shine through when chasing up on every little detail from our providers"

Having Andy at Morgan Mortgages Ltd guide us through the process of buying our first property really helped take the stress out of the purchase. They were completely open and easy to contact- and you can really see the determination and experience they have really shine through when chasing up on every little detail from our providers. I couldn't recommend them enough!

J. Williams

"Professional, friendly and absolute experts in what they do"

I used Morgan Mortgages Ltd whilst buying my first house as both my Mortgage and Insurance Adviser. They were extremely helpful and took over all the legwork, letting us concentrate on all the other aspects of buying a house. Professional, friendly and absolute experts in what they do.

Jamie McGrory

"Andy helped me through every step of the way and I am so gratefully for his effort and help throughout the whole process"

I first came across Morgan Mortgages Ltd when I was highly recommended by a good friend, When talking to Andy I explained that I had been to other mortgage advisor who could not help me, we spoke about what I needed to achieve for me over the phone and arranged to have a meeting. Andy came around to my house where we had an in depth chat about what I want him to do for me and his company background etc. He went away from meeting and done lots of research before calling me saying he could help me, I was over the moon when I had the phone call as had been to other advisor who just couldn’t help me.

It didn’t stop there as Andy helped me through every step of the way and I am so gratefully for his effort and help throughout the whole process. With Morgan Mortgages you most certainly get an outstanding stress free service, I will and have been highly recommending Morgan Mortgages Ltd to anyone I think they could help.

William Harraway

As a good mortgage is so important to you, we do everything in our power to ensure you are satisfied with the advice we give you for such an important choice. Click here to read more of our customer testimonials.