Self Employed Mortgages

Are you self-employed and dreaming of homeownership? Securing a mortgage when you're your own boss might seem like a complex journey, but fear not – MG Mortgages are here to guide you through the process.

Self Employed Mortgages Stockport

Being self-employed comes with its own set of challenges, and obtaining a mortgage is often perceived as one of the trickier aspects. Traditional lenders may raise eyebrows at irregular income patterns or lack of payslips, but that doesn’t mean you’re excluded from the property market. In fact, many lenders now recognise the growing population of self-employed individuals and offer tailored solutions.

Key Features of Self Employed Mortgages

Income Assessment: Instead of relying solely on traditional payslips, lenders assessing self-employed mortgage applications typically scrutinise business accounts, tax returns, and other relevant financial documents to evaluate income stability.

Business Structure Consideration: Lenders take into account the structure of your business – whether it’s a sole trader, partnership, or limited company – to understand the financial dynamics and assess risk.

Proof of Income: Providing a clear and comprehensive picture of your income is crucial. This may include evidence of contracts, invoices, or accounts demonstrating a consistent income stream.

Adjustable Criteria: Self-employed mortgages often come with more flexible criteria, recognising the variability in income that may be characteristic of entrepreneurial ventures.

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          Keith Chadwick 
 
 
 
 Trustindex verifies that the original source of the review is Google. We've recently used Mark and the team at MG Mortgages for our mortgage renewal and to tweak/setup some new protection. The process right from the initial contact has been excellent - Prompt, professional but simple and clear communication.

Mark worked through the available options for us, explaining the ins and outs of all the different aspects, and helped guide us to choose the right products for our needs.

The communication has continued to be excellent and we have been kept updated regularly throughout the process.

I would have no reservation in recommending Mark and his team at MG Mortgages to anyone looking to make this important piece of "Life Admin" as simple as it could be!
  
 
         fleur Belle 
 
 
 
 Trustindex verifies that the original source of the review is Google. Mark & his team were a dream to work with, so knowledgeable, so understanding & amazing at finding solutions. Will be recommending them to anyone that will listen
5 star service 🌟🌟🌟🌟🌟
  
 
         Carl John 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great, very professional service. Mark is highly knowledgeable, approachable and friendly. Highly recommend.
  
 
         Demi Wright 
 
 
 
 Trustindex verifies that the original source of the review is Google. Amazing customer service throughout, the whole team are super friendly and helpful. As a first time buyer this was a daunting experience so having MG Mortgages available for help and support throughout this process has helped me massively, couldn’t recommended them enough!
  
 
         Ric Roberts 
 
 
 
 Trustindex verifies that the original source of the review is Google. We recently completed a remortgage as part of a large extension project, and the service throughout was exceptional. Ours wasn't a straightforward case, with multiple stages, different objectives and several professionals involved, but everything was handled efficiently and with a clear plan from the outset.

What stood out most was the time taken to fully understand our goals and recommend products that suited our longer-term plans, rather than simply finding the quickest solution. Communication was excellent throughout – responsive, proactive and always clear, with detailed explanations that made complex decisions easy to understand.

The team also reviewed our existing protection arrangements, provided valuable guidance at no extra cost, and introduced us to an excellent wills specialist. Professional, knowledgeable, well-connected and genuinely focused on achieving the best outcome for their clients. Highly recommended.
  
 
         Mohsin Jamshaid 
 
 
 
 Trustindex verifies that the original source of the review is Google. MG Mortgages contacted me when I needed a mortgage. Phil from MG Mortgages got in touch first, and although I wasn’t sure initially, he made me feel comfortable by explaining everything clearly and in detail.

We arranged a video call, and he talked me through the whole process, answering all my questions and providing useful information that helped me make an informed decision. As a result, I decided to proceed with MG Mortgages.

The service was excellent, and they managed to get my mortgage approved in just 2 days. The whole process was quick, professional, and stress-free.

I would highly recommend MG Mortgages, and a special thank you to Phil for all his help in sorting out my mortgage.
  
 
         Steve Dewar 
 
 
 
 Trustindex verifies that the original source of the review is Google. The efficiency and professionalism of both Andy and Michelle to organise the mortgage for me and my partner was excellent and I can’t thank them enough.

Wholly recommend them and MG for your mortgage needs ⭐️ ⭐️⭐️⭐️⭐️
  
 
         Ste H 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great team, great communication kept everything clear and simple. Must say Phil really stepped up when time margins were tight and helped get things over the line. Thanks.
  
 
         Martin Wiegand 
 
 
 
 Trustindex verifies that the original source of the review is Google. Our advisor Andy has been absolutely brilliant, involved every step of the way and giving us all the options available. This is the first time for me on this process and he has been incredibly helpful making this as transparent as possible, can only recommend. For the fee they take, they do offer more than their money's worth.
  
 
         Kevin McCarthy 
 
 
 
 Trustindex verifies that the original source of the review is Google. Absolutely fantastic service from Mark and the team. There was a real personal touch to it, and they were genuinely committed to finding the best mortgage deal that suited my circumstances.

They really know their stuff, and it was all sorted in great time, with clarity every step of the way.

One of the things that sets them apart from the others was the clarity of communication - there was no bamboozling jargon, and never once did I feel rushed. I honestly can’t speak highly enough of them. Excellent.
  
 
  
 
  
 
   Google rating score: 5.0 of 5, based on 113 reviews

Why Choose MG Mortgages?

At MG Mortgages, we understand the nuances of self-employed finances and the unique hurdles you may face. Our team of experienced mortgage brokers specialise in crafting solutions that suit your specific circumstances. We believe in transparency and communication, ensuring you are well-informed at every step of the mortgage application process.

Understanding Your Finances: The key to a successful self-employed mortgage application lies in presenting a clear financial picture. MG Mortgages works closely with you to understand your business structure, income sources, and overall financial health. We’ll help you organise your financial documentation, making it easier for lenders to assess your eligibility.

Tailored Mortgage Solutions: Not all self-employed individuals are the same, and neither should their mortgages be. MG Mortgages collaborates with a wide network of lenders, each with unique criteria and offerings. This allows us to match you with the mortgage that aligns perfectly with your financial situation and homeownership goals.

Overcoming Common Hurdles: Self-employed mortgage applicants often face concerns related to proof of income, business stability, and credit history. MG Mortgages has a proven track record of assisting self-employed individuals in overcoming these hurdles. Our expertise lies in presenting your case in the best possible light, increasing your chances of mortgage approval.

Frequently Asked Questions

How is Income Verified for Self Employed Mortgages?

Verifying income for self-employed mortgages differs from traditional employment methods. Rather than pay slips, self-employed individuals typically need to provide two to three years of tax returns, business accounts, and potentially SA302 forms from HMRC. Some lenders may request an accountant’s certification, while others may consider business plans, financial projections, and bank statements.

What if My Income Fluctuates?

Self-employed individuals often face income fluctuations, a unique challenge when seeking a mortgage. Many lenders are willing to consider an average of your income over a specified period, offering greater flexibility in assessing your financial stability. This approach takes into account the seasonal or variable nature of self-employed earnings, increasing the chances of securing a mortgage that aligns with your income patterns.

Can I Use Business Accounts for Mortgage Applications?

Certainly, using business accounts for self-employed mortgage applications is common practice. Lenders often consider these accounts as part of the documentation required to assess your financial stability.

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Self Employed Mortgages in Stockport

Are you self-employed and looking to secure a mortgage in Stockport? MG Mortgages specialises in helping entrepreneurs, freelancers, and business owners navigate the unique challenges of self-employed mortgages. With tailored advice and access to a network of lenders who understand irregular income patterns, we ensure your financial profile is presented in the best light. Whether you need help organising documentation or overcoming common hurdles, our local expertise makes the process seamless. Let MG Mortgages guide you to homeownership in Stockport—your dream home is closer than you think.