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Some good news at last for the self-employed in the mortgage market.
A number of lenders are now looking to actively support self-employed mortgage applicants by making it easier and quicker for them to get a mortgage – this is tremendous news in what has been a difficult time for the self-employed.
Whilst lenders are still ensuring they have the information needed to make an appropriate affordability assessment, some are now showing a more relaxed stance by no longer asking for bank statements for 2020 to compare to 2021.
In other words, they’re less worried about the impact of 2020, and instead concentrating on what is being achieved now.
Another interesting development is that one of the largest high street lenders has said that any COVID grants over three months old can be ignored. Even more astonishing is that we have at least two high-street lenders who, rather than penalise the self-employed for taking a COVID grant, are actually happy for the applicant to use the grant amount on their Self Assessment towards their income. Who saw that coming?!
All of this comes at a time when we’re seeing mortgage rates below 1% for the first time in years.
It seems that lenders really do want to lend again, and rather than being critical of the self-employed, they’re really going out of their way to help.
There's no better time to contact us at Crunch Mortgages and see what you can do today!
Why choose Crunch Mortgages?
At Crunch Mortgages, we can work with any lender to find you the perfect mortgage with exclusive deals. Our specialist self-employed mortgage advisors will take the time to fully understand your circumstances.
First time buyer? No sweat! Your own, dedicated advisor will guide you through the whole process and help you secure your first time buyers mortgage.
Get in touch with us today and discover how much simpler claiming a self-employed mortgage can become with Crunch Mortgages!
If you’ve had enough of juggling spreadsheets and never finding the right invoice, your business needs Crunch’s free accounting software, whether you are a freelancer, sole trader or limited company. We are the UK’s most cost-effective online accounting service, with an award-winning Customer Service team and Chartered Certified accountants.
We have no hidden fees, no limitations, but a wide range of accounting software features that help you easily manage your business. If you need more information, you can talk to our expert online accountants, payroll experts and even VAT specialists.
Is it time for your Self Assessment? The Crunch team can also complete and file that to HMRC for a one-off fee. We have a powerful online system and fully-trained accountants to relieve you of stressing about those numbers.
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