Work for yourself and want to buy a home or remortgage? We help sole traders, company directors, contractors and freelancers across Hastings, Bexhill, Eastbourne, Brighton and the rest of Sussex. We explain how lenders may look at your income before you apply.
Book a free 15-minute call or ring us on 01424 444597.
Being self-employed does not stop you getting a mortgage. But lenders may check your income in more detail than they would for someone on a salary.
Each lender has its own rules. One lender may say no, while another may be happy to help. We aim to find lenders that may suit your type of income before you apply.
If your profit has gone up, some lenders may use your latest year. Others may take an average of two years. If your profit has gone down, lenders may use the lower figure.
It may be possible. Some lenders may prefer two years of figures, but others may consider one full year of trading.
If you moved from sole trader to a limited company and kept doing the same work, some lenders may count your history from before. This is called continuity of trade.
Our guide to one year of accounts and retained profit goes into more detail. We also have a wider guide to self-employed, director and CIS mortgages in East Sussex.
We help people from all kinds of local businesses. That includes builders, electricians and other trades around Hastings and St Leonards, and shop and café owners in Hastings Old Town and on Norman Road.
We also help tourism and hospitality businesses along the coast, from Hastings to Eastbourne. Their income can rise and fall with the seasons. In Brighton, many of the people we speak to are freelancers in creative and digital work, paid by several clients.
Uneven income is not a problem in itself. What matters is how it shows in your figures, and which lender we choose.
Speak to a friendly, expert Mortgage Adviser about your unique mortgage needs.
We'll search 1000s of products for the best mortgage and present our advice to you.
Your Adviser will complete your application, liaise with the lender and you, keep you informed until completion.
You don't need anything for your first call. When you're ready to apply, it helps to have:
We'll tell you exactly what your chosen lender needs, so you only gather it once.
Your adviser is Russell Braiden CeMAP. Russell has been giving mortgage advice since 2011.
We're an independent broker based at 17 Havelock Road in Hastings. You can come into the office, or we can do everything by phone or video.
If you're buying, see our first-time buyer advice in Hastings. If you already own, see remortgaging.
Our fee is £599. If you're buying, you pay it once your formal mortgage offer is issued. If you're remortgaging, you pay it on completion. There's no broker fee for a product transfer. Your first call and your quote are free.
Book a free 15-minute call or ring us on 01424 444597.
It may be possible. Some lenders may consider one full year of accounts or tax returns. If you did the same work as an employee before, a few lenders may consider less than a year. We'll check what could fit you.
Some lenders may. They may use your salary plus your share of the company's net profit, not just the dividends you take out. Your accountant may need to confirm the profit isn't needed to run the business.
Some lenders may ask for a letter or reference from your accountant. Others may work from HMRC documents alone. We'll tell you which applies before you apply.
It may be possible. A new lender may run the same income checks as for a purchase. If you stay with your current lender on a product transfer, there may be fewer checks.
Our fee is £599. For a purchase, you pay it once your formal mortgage offer is issued. For a remortgage, you pay it on completion. A product transfer has no broker fee. Your 15-minute call and your quote are free.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage.
Transparent Mortgage Services is a trading style of Transparent Financial Associates Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 925926). 17 Havelock Road, Hastings, East Sussex TN34 1BP. Telephone 01424 444597. Email info@tms-fs.co.uk.
