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The Self Employed Mortgage Guide
Self-employed business owners and entrepreneurs face the brunt of the struggles when it comes to trying to secure their dream home. They risk rejection and disappointment from the high-street lenders and trying to secure a mortgage becomes stressful and time consuming. This book will give you the information and understanding you need to help avoid the ordeal you may face if you walk into a high-street bank to ask for a mortgage.
Buying their dream home is probably the most important step in anyone’s life, but for the self-employed, business owners and entrepreneurs, trying to secure that dream home can be a painful experience. These buyers risk disappointment when they go to a high-street bank for a mortgage. Whether they want to buy a property or remortgage an existing one, they may well be in line for stress, anxiety and endless delays.
Gary approached his existing lender and met with a refusal, on the grounds of his own status as a company director and his wife’s as a sole trader. The way the bank assessed their income meant that it would not let them borrow more than their current mortgage.
Despite his anger and frustration, Gary knew that all was not lost. He spent countless hours speaking to banks and mortgage lenders, and researching their criteria, so he could learn how to demonstrate affordability and get the best terms.
He could get the keys to his dream home with ease and simplicity; he just needed a lender who would consider retained profit rather than salary and dividends as proof of an adequate income.
Whether you are a first-time buyer or an experienced home-owner, this book will give you the information and understanding you need if you are to avoid the ordeal you may face if you simply walk into a high-street bank to ask for a mortgage. The ACTIVE framework brings clarity to the confusion, to make sure every application can end in victory, and shows you how you can be entrepreneurial with your property in the future.