Getting Mortgage When Self Employed in the UK
Buying a home is a huge milestone, but if you're self-employed, getting a mortgage can feel more complicated. Unlike traditional employees with payslips, self-employed individuals must provide extra proof of income, making lenders more cautious. However, that doesn’t mean homeownership is out of reach. With the right preparation and understanding of lender requirements, you can secure a great mortgage deal. This guide will walk you through the essentials of self-employed mortgages in the UK, including eligibility, required documents, deposit expectations, and ways to boost your approval chances. What Are Self Employed Mortgages? Self-employed mortgages are not a separate type of mortgage but follow the same structure as standard home loans. The difference lies in the approval process. Since self-employed individuals don't have fixed monthly salaries, lenders require more evidence of financial stability. Common Myths About Self-Employed Mortgages Self-employed people c...