Self Employed Mortgage Advice in Sunderland

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Self-employed applicants can often be dealt a bad hand of cards when it comes to them trying to obtain a mortgage, as the mortgage lenders are a lot stricter on them and generally require you to provide more information than an employed applicant may have to.


Keeping this in mind, it is crucial that you take notice of any self-employed mortgage advice in Sunderland that you receive, especially from an experienced, knowledgeable and reputable mortgage broker in Sunderland such as Sunderlandmoneyman.


No matter what type of business owner you are, we believe the service we provide will be beneficial to all who get in touch. We speak to self employed mortgage applicants all the time, so will have likely encountered a situation like yours at some point before. Our mortgage advisors in Sunderland are mortgage experts, so approaching them for help will prove invaluable.

Experienced Mortgage Advice in Sunderland

If you are looking to buy a new property or are looking at your potential options for taking out a remortgage in the future, please do get in touch. We have worked countless years alongside a wide variety with self-employed clients from all kinds of backgrounds. Each one has come to us looking to secure the best deal they can find, and using our knowledge of lender criteria, we’ve built up quite the track record in finding success with this.


It’s important to remember that as a self employed applicant, the only major difference is how you evidence your income. If you can sufficiently evidence everything and remain honest to ourselves and the lender, with luck, you’ll hopefully run through the process smoothly and find success, just like any employed applicant would.


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Popular Self Employed Scenarios

We work with a wide variety of different self-employed mortgage clients, all in need of some expert, fast & friendly mortgage advice in Sunderland. Here are just a selection of the different scenarios we have faced over our time as a mortgage broker in Sunderland, when speaking to self employed mortgage applicants.


  • You’re an owner of a company, a director, a sole trader or you are a business partner, requiring expert self-employed mortgage advice in Sunderland.
  • The bank will only allow you to borrow so much and are needing to borrow more than that amount.
  • As a self-employed business owner, you are being paid a combination of salary, dividends or a directors’ loan.
  • You leave the majority of your net profit sitting in your company, as opposed to paying yourself a larger salary.
  • Despite having a really great credit score, for one reason or another, you just don’t match the banks’ strict lending criteria.
  • You have an unsteady net profit.
  • Your business has only been trading for a year.
  • Your company is going through quite a busy period of time and you require the assistance of a trusted mortgage advisor in Sunderland throughout the mortgage process.


Generally speaking, banks are not always the best options for self-employed mortgage applicants to speak to directly. These banks have automated systems and unfortunately, no matter how many years you have been banking with them or how much money you pay into your account on a regular basis, if the computer says no, you’re out of luck.


This is where a mortgage broker in Sunderland like Sunderlandmoneyman may be able to help. We can match up your needs and current financial position to different lenders criteria, giving you a better chance of success on your mortgage journey.

Self Employed Customers & Bank Mortgage Advice

Almost every high street mortgage lender you can think to speak to will use their in-house credit scoring policies when granting their customers a mortgage. These credit scoring policies are based on the mortgage lenders own experience and history throughout their years in the industry.


They’ll analyse previous mortgage repayment statistics, repossession information and other common patterns in order to determine who they believe would be risky to lend to. This will save the lender both their time and their money, but can leave a lot of self-employed applicants without a way to own their dream home.


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


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


Whilst this doesn’t apply to every lender (with some only requiring one years’), it’s always better to make sure you have a good few years anyway, to increase your chance of finding a mortgage.

Self Employed Mortgage Advice in Sunderland

The variances in lending criteria can completely depend on the lender when it comes to self employed mortgages and it is the job of our dedicated mortgage advisors in Sunderland to match you up with the most suitable lender to go with. This is something we aim to get right first time!


The work we do and the service we provide is purely for you, our customer. We will only ever have your absolute best interests at heart.


We have a lot of experience in aiding and guiding a great deal of limited company owners, sole traders, partners that receive a salary, dividends or a mixture of the two. Utilising the knowledge we have acquired over our over two decades of mortgage industry experience, we’re often able to find solutions for those who need our help.


We are able to use the wealth in-depth experience and knowledge we have at our disposal to find you the most suitable mortgage for your personal and financial situation.

Having Mortgage Problems?

On a regular basis we make contact with customers who for one reason or another have faced a measure of difficulty when going direct to their high street mortgage lender. Some of these reasons have been known to include;


  1. Failed banks criteria
  2. Fluctuating net profit
  3. Pay structure
  4. Credit score
  5. Personal situation
  6. Bank won’t lend enough


You should definitely make sure that you don’t keep trying lots of other lenders without being completely clued in to their strict lending criteria, as this can have an adverse impact on your credit score. Furthermore, this could actually harm your chances of getting a mortgage full stop.

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Common mortgage

Your free initial mortgage consultation with a mortgage advisor in Sunderland will last round about one hour. They will then recommend a mortgage for you, wherein you have no obligation to proceed and you can decide whether or not that particular deal is something you’d like to go forward with.

As a trusted and well experienced mortgage broker in Sunderland, we will first carry out a Fact Find to establish your personal needs, before we begin searching and recommending the most suitable mortgage for you. A credit check will be required for an Agreement in Principle. A formal mortgage offer can be issued once you have provided all the relevant documentation and a valuation of the property has been undertaken.

To avoid any kind of disappointment with a property, we recommend you obtain an Agreement in Principle before you begin property viewings in Sunderland. We would say that at the very latest, you should obtain one before you start to make offers, in order to assist your bargaining position.

A standard Agreement in Principle typically lasts for around 30 to 90 days depending on the Lender. If your Agreement in Principle expires, you can get it easily refreshed.

You may have the option of getting a second mortgage on your home for things like debt consolidation or Home Improvements. This can also be possible if you’re wanting to use it for yourself, a family member, a holiday home or a Buy to Let.

The minimum deposit for purchasing a home in Sunderland with a mortgage lender is typically 5%. This figure can possibly be higher if you have had previous credit problems.

If you have had credit problems previously in life, you may still have a chance at obtaining a mortgage, but you may be required to put down a higher deposit than usual. This could be be 15% of the property purchase price.

Once you have submitted at least one year’s accounts to the lender, you may be eligible for a mortgage. Most Lenders will calculate the maximum mortgage with salary plus dividend, whereas others sometimes go off your net profit.

A lender will usually need three payslips for an employee to prove income and the latest 2 years’ accounts for an applicant who is self-employed. You will also need to provide them with proof of ID, address and 3 months’ bank statements.

Your free consultation with a mortgage advisor in Sunderland will typically lasts up to an hour or so. We have the ability to turn round an agreement in principle within 24 hours. A formal mortgage offer has been known to take roughly about three weeks on average.

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 Sunderland.

Step 3

Make an offer on the property in Sunderland 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.

Handy quick links & Sunderlandmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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Sunderlandmoneyman – Hope Street Xchange, 1-3 Hind Street, Sunderland, SR1 3QD

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