Mortgage Advice in Lincoln for Self Employed Applicants

Self Employed Mortgage Advice in Lincoln

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Helping you Secure a Mortgage as a Self Employed Applicant

It can be challenging for self employed applicants in Lincoln to secure a mortgage. Some of the many challenges can include not meeting a lender’s criteria or show enough income to prove you can keep up the monthly payments.


Not everyone can be assessed the same. Lenders need to be confident that self employed applicants can afford their mortgage. Some things they will take into consideration will include:


– Your salary/income


– Your previous years of accounts


– Business operating costs and expenses


– Bank statements

Self Employed Mortgage Advice in Lincoln

Our Mortgage Advisors in Lincoln are here to help you secure a self employed mortgage product that is best suited to your scenario.


We will provide our full support and guidance throughout the entire mortgage process, giving you advice and doing everything we can to increase the chances of obtaining you a mortgage.


Our Mortgage Advisors in Lincoln can search 1000’s of self employed mortgage products. Once we match you to the most suitable deal, we can start preparing your mortgage application if you want to continue with it.


Open 7 days a week to work around you, feel free to get in touch at a time that suits you best. Please take advantage of our free mortgage consultation today that we offer to all self employed applicants.


How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Self Employed Scenarios

As a Mortgage Broker in Lincoln, we have work with many self employed mortgage customers, all in need of open and honest Mortgage Advice in Lincoln.


Our Mortgage Advisors in Lincoln have dealt with all kinds of different self employed applications. Here are just a few of the various scenarios that our advisors are used to dealing with:


  • As a business owner, your income combines either salary, dividends or a directors’ loan.
  • Your company is going through a rough business period and needs a Mortgage Advisor’s assistance in Lincoln to guide you throughout the mortgage process.
  • You leave most of your net profit sitting in your company rather than paying yourself a larger salary.
  • Your business hasn’t been trading for more than one year.
  • Despite having a good credit score, you don’t seem to match the banks’ lending criteria for some reason.
  • You are a company owner, a director, a sole trader, or a business partner who needs self employed Mortgage Advice in Lincoln.
  • The bank is limiting the amount you can borrow, and you need to borrow more than that amount.
  • Your net profit is not steady in position.


Not everyone gets accepted for a mortgage by their bank. Unfortunately, these banks have automated systems, and even if you have been with these banks for years may still decline you.


With the help of a trusted Mortgage broker in Lincoln, we can step in and take the stress away. Our team of Mortgage Advisors in Lincoln can search through 1000’s of deals to match your circumstances to a suitable lender.


Self Employed Customers & Bank Mortgage Advice in Lincoln

Most high street lenders use their own in-house credit scoring policies to allow customers to take out a mortgage with them. As well as, the majority of high street lenders out there have strict lending criteria, with many wanting to see your profits going up over a minimum of three years accounts, with some taking a three-year average.


A lender will analyse previous mortgage repayment statistics, repossession information and other common patterns to determine whom they believe would be risky to lend to. This saves the lender both time and money but can leave many self employed applicants without achieving their mortgage goals.


In previous years, mortgage lenders may have had far more self employed applicants fall into arrears than those who are employed. However, it’s also fair to point out that those employed applicants likely had a lot fewer hurdles to jump through just to meet the lender’s strict criteria.


You may find that the vast majority of high street lenders out there have stringent criteria, and many want to see your profits increasing over a minimum of three years accounts, with some taking an average over three years.

Why choose us as your Mortgage Broker in Lincoln?

Each lender has their own lending criteria for self employed applicants. With the help of an expert Mortgage broker in Lincoln by your side, our advisors will work hard to find you the most suitable lender for your circumstances.


Customers are the heart of this company. Throughout our many years within the industry, our Mortgage Advisors in Lincoln have experience helping limited company owners, sole traders, partners that receive a salary, dividends or a mixture of both.


They use their expert knowledge to try and find solutions for self employed applicants who need help with their mortgage. We are able to use our mortgage market expertise to find you the most suitable mortgage for your circumstances.

Having Mortgage Problems?

We have spoken to many self employed applicants who have being directly rejected by their bank for a mortgage, and it can be challenging to obtain a mortgage, but it shouldn’t have to be. Here are some of the reasons why the bank may have rejected other self employed applicants this include;

  • Failed banks criteria
  • Fluctuating net profit
  • Personal situation
  • Bank won’t lend enough
  • Pay structure
  • Credit score

Refrain from approaching various lenders by yourself, especially if you’re unfamiliar with their lending criteria. Doing so can harm your credit score, which won’t help your odds of getting a mortgage.


Speaking to a Mortgage Broker in Lincoln like ourselves with be very beneficial as we will be by your side during the entire process. We are used to dealing with complex mortgage situations. Get in touch today for your free mortgage consultation, and let’s book you in to speak to a Mortgage Advisors in Lincoln today.

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Common mortgage

Your free mortgage consultation in Lincoln will generally last around 60 minutes. An advisor will then recommend a mortgage for you, with no obligation for you to go forward. You are free to decide whether or not you wish to proceed with the mortgage in question.

As a dedicated and experienced mortgage broker in Lincoln, we work on your behalf. We will carry out a Fact Find to establish your personal needs before we recommend the most suitable mortgage for your circumstances. A credit check will then be required for you to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued to you by the lender.

To avoid any kind of possible disappointment, we would definitely recommend that you obtain an Agreement in Principle before you begin viewing properties in Lincoln. At the very latest you should obtain one prior to making an offer, as it is free of charge and can put you in a much better bargaining position down the line.

An Agreement in Principle will usually lasts for anywhere between 30 and 90 days depending on the Lender that is used. If your Agreement in Principle expires it can always be refreshed with the help of your mortgage advisor.

It may be possible to get a second mortgage on your home if you’re looking to do Debt Consolidation or Home Improvements. You may also find that it’s possible to take out a mortgage on a second property if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit that a high street lender will require for a property purchase in Lincoln is typically 5%. This can be higher if you have had any credit problems in the past.

If you have had any type of credit problems in the past, you can still get a mortgage but you may possibly be required to put down a higher deposit than expected, perhaps 15% of the properties purchase price.

Once you have submitted at least one year’s accounts, you are then eligible for a mortgage. Most Lenders will be using your salary plus dividend to calculate the maximum mortgage, whereas others have been known to go off your net profit.

It’s usually three payslips that a lender will need to see for an employee to prove income and the latest 2 years’ accounts for Self Employed. You will also need to produce proof of ID, address and the last 3 months’ bank statements.

The general amount of time that your free consultation with an advisor will last is around 30 mins. A mortgage advisor can turn round an agreement in principle within 24 hours of your consultation. A formal mortgage offer will take on average about three weeks.

We make it so easy!
Our 4 step process

Step 1

A telephone call where we can take some initial details and find out about your plan of action to get to know your Self Employed situation a bit better.

Step 2

You can take some time out to browse potential properties in Lincoln.

Step 3

Make an offer on the property in Lincoln that you have your eye on – we’ll finalise your figures and help you get your best deal as a Self Employed applicant.

Step 4

Our Mortgage Advice and recommendations. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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