Expert Self-Employed Mortgage Advice & Products For Those With Bad Credit
Let us put you in touch with one of our mortgage experts who will give you impartial advice and help you find suitable self-employed mortgage products for you even when you have a bad credit score.
No credit search conducted
Working with leading lenders ...
We work with high street and other lenders so you’ll get access to some the best deals that you may be able to apply for.
Why use us?
From the information you provide to us, our experts will search the market and find the most suitable products for you. If you are happy with the product on offer, we will handle all the necessary paperwork for you, including any relevant applications, to ensure that everything runs smoothly for you.
From just a few minutes completing some basic information, we will quickly search for suitable financial products for you.
We’ve helped thousands of customers secure financial products and service so you know that you are in capable hands.
Reduced stress & time saving
Choosing the right financial product is time consuming and can be stressful, so remove much of this by putting it in the hands of one of our financial experts.
Whatever type of financial product or service you are looking for, our service is reliable and always matched to your own personal circumstances.
Whether you’re looking for Mortgage Advice, Loan Advice or Insurance Advice or any other financial product or service, we can help you…
“Did a great job helping us with our mortgage. I would recommend!”
So ... how can we help?
Buying a financial product such as a mortgage can be the biggest decision made in our lives. It is for this reason that impartial advice is critical from qualified advisors.
Self Employed Mortgage when you have bad credit
Getting a mortgage when you are self-employed can be more difficult, with bad credit as well, it adds another layer of complexity to the case. However the situation is not impossible, and if you work with one of our expert advisers at Finance Advice Centre you will get a personal service so you can hopefully find the most suitable products for your own circumstances. Having that extra bit of help and guidance can give you a significant advantage when submitting your application for a mortgage and it could ultimately set you up to be successful.
Can you get a bad credit mortgage if you are self-employed?
There are mortgages available for some self-employed people who have bad credit, and getting professional advice before you apply is highly recommended, though accessing this help does not always guarantee that you will be able to get a mortgage. It could be that you need a specialist provider who is accepting of risk, since you fall into two quite niche categories. The level of risk involved in a mortgage product will come down to a number of factors including:
- How long you have been self-employed for
- The cause of your bad credit
- The situation surrounding your bad credit
- How much deposit you can put down
- How closely you meet the lender’s affordability criteria
Getting the most favourable interest rates on your mortgage product is often a case of matching the level of risk to the lender who is willing to accept it, though it is worth noting that not everyone will be able to get a suitable mortgage.
What criteria do you need to meet?
As a self-employed individual, the criteria you are required to meet is not really different from customers in full-time employment, but the way in which your income is assessed will be.
The majority of lenders will want you to provide 2-3 years of accounts or tax calculations. It could be possible to find a provider who will accept 12 months of accounts, depending on how much extra risk your bad credit adds to the mortgage product on offer.
It will help your application if your accounts show steady income during the years they cover, as fluctuating earnings could cause concerns with the provider. If your income is a bit irregular, a strong track record in the industry you trade in could help to offset some of the risk.
Lowering the risk
If you are worried that your status as a self-employed person alongside your bad credit history could make it more difficult to get a mortgage, remember that there are things you can do to lower the level of risk and to boost your suitability as a borrower. This includes:
- Putting down extra deposit – a lot of providers prefer customers to provide at least 10-15% deposit but if you have bad credit, it is recommended that you put down extra so you can access better rates
- Declaring at least 3 years of accounts – the more accounts you have that can prove your income the better. Having a minimum of 3 years’ worth is likely to give you access to a wider range of mortgage products because there will be more lenders you can approach
Speak to Finance Advice Centre today for specialist help and guidance on your bad credit self-employed mortgage application.
As a mortgage is secured against your property, it may be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.
Our approach - and how we do it
We love speaking with our clients. Either give us a call or fill in one of our contact forms. Remember, we love a challenge!
One of our Advisors will then find out what you’re looking to do, discuss your options and answer any questions you may have.
Your Advisor will find the best option for you and help arrange things. You then sit back and relax while we do the rest.
Ready to assist you.
Choosing a financial product or service, such as a mortgage, remortgage, loan or insurance can be daunting and your choice is a decision you need to get right. For this reason, it is vital that you get impartial advice from competent and qualified advisors. Whether you are a first-time buyer, looking to remortgage, hoping to remortgage or even buy a property to let, needing a loan or insurance this is where our advisers excel.
Be reassured that our aim is to guarantee reliable financial advice appropriate to any individual that makes contact with us. Through our network of contacts, we have access to thousands of financial products, from mortgages to loans to insurance, so we are confident that we’ll find one to suit you.
See what our customers think ...
I would highly recommend the mortgage advice service Alice Hale was amazing throughout she is a credit to your organisation and helped us secure our dream home
We had a long journey buying our first home together and recent pandemic events didn’t help matters. Every step of the way, our advisor Steve was supportive, positive and we had every confidence in him. He was able to arrange a good deal for us and we were able to move into our dream house this autumn.
I used George from the finance advice centre to get my mortgage, and he was nothing but amazing! Talked me through every step, always easy to get hold of ! And got me a brilliant product I would highly recommend him, just brilliant 5 stars from me
What a Fantastic Service from start to finish. Great customer support from Ben Patten & Joe Frayne, superb product knowledge and exceptionally responsive to emails/calls, we can 100% recommend the Finance Advice Centre Ltd , they got us a great deal on a mortgage with suited life insurance, especially during this very difficult Covid 19 time ……
From start to finish, Greig and Emily were very helpful with our mortgage application. The advice Greig gave us was very clear and informed. They were always available either by phone or email to answer any questions we had. The whole process was made a lot easier because of the work they did. Would thoroughly recommend
Let us do the work of finding your mortgage
We’ll put you in touch with impartial advice from an expert mortgage advisor who will help secure you the best mortgage deals available.