The Blog Single

Why the self-employed need 1ONEFUND

If you are a self-employed individual, freelancer or contractor, it can be extremely difficult for you to get your mortgage approved. However, it is not impossible. If you are considering remortgaging or buying your dream home, the team at 1OneFund can help get find the right mortgage provider and get your self-employed mortgage approved, even if you are the sole owner of the business. According to traditional lenders, a self-employed individual is one who owns more than a 20% share of the business, which is your main source of income. Regardless of whether you are a sole trader, partner or director, the mortgage provider must see enough proof of your income for the past last two years.

Most lenders view self-employed borrowers as risky because of their irregular income source, and also, there is no one to confirm their salary. A mortgage broker can be a lifesaver when you are a self-employed individual. They know exactly which lenders are willing to lend money to self-employed people. Additionally, they will also know which lenders accept less than two years of accounts, as well as lenders offering the best terms and rates. Please do not hesitate to speak to a member of our team today to find out more information about our mortgage services. Just because you are a self-employed individual, it shouldn’t be an obstacle for you to be accepted for a mortgage. However, you might have to jump through more hoops to get approved.

Over the last couple of years, it has been challenging for self-employed buyers to get a mortgage approved. However, in recent times, borrowers need not prove their source of income by submitting bank statements or payslips, as a few private lenders are not so strict on these checks as traditional lenders require.


Schedule an appointment with professional mortgage brokers at 1OneFund today!

Every mortgage lender has its lending criteria when it comes to assessing the income status of the borrower. Some lenders consider a range of income sources to approve their loan application, while a few lenders do not consider the above-mentioned factors. You can rely on our team of knowledgeable and experienced professionals to not only get you the best deal but also make the mortgage approval process stress-free. As a borrower, if you have realistic expectations right from the start of how much you will need to borrow, you are less likely to get your mortgage request rejected. If your income stream has been up and down, it is highly advised to seek professional help from experts like 1OneFund to see how it can affect your chances of securing a loan.

To find out more information about our comprehensive self-employed mortgage services or how our team can help with your mortgage needs if you are self-employed, please do not hesitate to get in touch with a member of our team today. Whatever your queries, we will be more than happy to address them and provide you with a clear-cut solution.

Leave a Reply