Self-Employed Mortgages
Owning your own business is incredibly rewarding, but it can also present challenges when applying for a mortgage. Here at Swift Financial, we understand the unique mortgage needs of self-employed individuals.
We take the time to understand your specific situation. Whether you're a sole trader, partner, or limited company director, our experienced brokers can tailor our approach to your business structure.
We work closely with your accountant to gather all the necessary tax documentation or company accounts lenders require. This ensures a smooth application process and helps us present your financial situation in the best possible light.
Maximising Borrowing
We can assess your income using a combination of salary, dividends, and your company profits to maximise your borrowing capability. Even if you've opted to take a lower dividend to minimise your tax liability, we can demonstrate your true earning capacity and help you borrow the desired amount.
Fluctuating Profits
Profits in industries like construction can naturally fluctuate. We have lenders who specialise in understanding these fluctuations and can assess your creditworthiness based on the overall strength of your business rather than a snapshot of recent business activity.
Growing Business & Increased Profits
If your business is thriving and your earnings have increased year-on-year, fantastic! We can work with lenders who consider your latest year's figures rather than an average of the previous two years. This ensures your application reflects your current financial strength.
Newly Self-Employed?
Don't worry if you haven't been self-employed for long. We have access to lenders who consider applications from individuals with just one year of self-employment history.
Affordability Assessments and Business Expenses
Sometimes, personal credit reports might show expenses related to your business. We can work with lenders who understand this and potentially discount these expenses from your affordability assessment, providing a clearer picture of your true financial standing.
Changes in Business Structure
Have you transitioned from a sole trader to a limited company? No problem! We can find lenders who cater to your specific business structure and help you secure a mortgage.