Mortgage Advice in Birmingham for Self Employed Applicants

Self-Employed Mortgage Advice in Birmingham

Free Self-Employed mortgage consultation

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Helping you Secure a Mortgage as a Self Employed Applicant!

It can be more of a challenge to get a mortgage if you’re self-employed because you will need to prove you have a steady income. But if you are looking to get a mortgage when self-employed, it’s certainly not impossible with the help of a Mortgage Broker in Birmingham.


As we said, everyone would love to be treated the same when starting their mortgage journey. However, lenders need to be confident that self-employed applicants can meet the affordability to obtain a mortgage. They will look at factors such as:


– Your income/salary
– Your previous years of accounts’
– Business operating costs and expenses
– Bank statements


Speak to our Mortgage Advisors in Birmingham

Having a trusted Mortgage Broker like Birminghammoneyman by your side means you can take on the mortgage world with less stress on your shoulders. We are here to support you throughout the entire mortgage process, talking you through every step and making sure we’re readily available to answer any of your mortgage questions.


Our Mortgage Advisors in Birmingham have a vast in-depth knowledge of lenders self-employed lending criteria. They have spent many years working with independent self-employed applicants from various backgrounds, all coming to us to utilise our parge panel of lenders to help find them secure the most suitable deal for their circumstances.


We can access 1000s of competitive self-employed mortgage products. Once we find the perfect deal for you, we can start preparing your mortgage application if you want to continue with it.


Our Mortgage Advisors in Birmingham work 7 days a week to ensure that you can get in touch at a time that suits you best. Please take advantage of our free self-employed mortgage consultation today.



How does it work?Get a quote nowMeet your advisor

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Self Employed Scenarios

We have worked with many self-employed applicants in the past, who required some expert, fast and friendly Mortgage Advice in Birmingham. Below we listed a selection of popular self-employed scenarios our advisors have faced over the years when speaking to self-employed applicants like yourself:


  • You are an owner of a company, a director, a sole trader, or a business partner, requiring expert self-employed Mortgage Advice in Birmingham.
  • The bank will only offer you a small amount to borrow, and you want to see if you can borrow more.
  • As a self-employed business owner, you are paying yourself a combination of salary, dividends or a directors’ loan.
  • You leave most of your net profit sitting in your company instead of paying yourself a larger salary.
  • Despite having a great credit score, you don’t match the banks’ strict lending criteria for one reason or another.
  • You have an unbalanced net profit.
  • The business has only been trading for 1 year.
  • Your company is going through a busy period, and you need the assistance of a Mortgage Advisor in Birmingham.


Banks are not always the most suitable options for self-employed applicants to speak to directly. Most 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 regularly, you are out of luck if they say no.


Lucky for you, one of the many benefits of using a Mortgage Broker in Birmingham like Birminghammoneyman, we may be able to help. Our advisors can match your circumstances and current financial position to see if we can match you to the most suitable Lender, giving you a better chance of achieving your mortgage goals.


Self Employed Customers & Bank Mortgage Advice

Most high street mortgage lenders you can speak to will use their in-house credit scoring policies when assessing their customer’s mortgage applications. These lending policies and scoring systems are based on the mortgage lenders’ own experience working in the industry.


Lenders will analyse previous mortgage repayment statistics, repossession information and other common patterns to determine whom they believe would be risky to lend to—saving them both time and money. However, it can leave a lot of self-employed applicants without a way to achieve their mortgage goals.


As we said, you will find that the vast majority of high street lenders out there have stringent criteria, and many want to see your profits increasing over a minimum of 2/3 years accounts, with some taking an average over three years.


Whilst this doesn’t apply to every Lender, we recommend it’s always better to make sure you have a good few years to help increase your chance of obtaining a mortgage.


Common Self Employed Mortgage FAQ’s

How many years on the books do I need?

You will commonly find that you need to have been self-employed for at least two years, as most lenders will want to see evidence of that time frame. Some self-employed specialist lenders will work off a single year. But as we said, most high street lenders will want a minimum of two years’ accounts.


How will a Lender assess my income?

Most high street lenders will ask for at least 2/3 years’ worth of accounts – detailing income, expenses and operating costs to determine if you are someone who can make timely repayments on your mortgage. Some lenders will also look at retained profits within a business and consider this when assessing affordability.


I’m a Director of my own Limited Company

Even in their own business, a director is classed as an employee. Therefore, most lenders will not asses you unless you own less than 25% of the shares. Lenders add the dividend you have drawn to your annual salary to calculate your yearly earnings. Depending on this figure will determine the maximum amount you can borrow.


Other lenders will work from net profit rather than dividend/salary, which works well for Directors who keep their drawings low.


How much deposit do I need to put down?

The minimum deposit for self-employed mortgage applicants need to put down for a mortgage is 5%. Depending on your accounts, you may find yourself having to put down more.


Can a Self Employed Contractor get a Mortgage?

Contractors have a selective choice of mortgage options. The reasons being more people work from short term contacts these days. Lenders will consider taking your “daily rate” rather than your net profit if you can provide a good track record.


Most high street lenders will ask you how long is remaining on your current contract. Lenders need to have confidence and determine if you are someone who can make timely repayments on your mortgage. It may be possible to get a mortgage in some circumstances if this is the first contract you have had, depending on your circumstances.

Self Employed Mortgage Advice in Birmingham

The variations in lending criteria can entirely depend on the lender for self-employed mortgages, and our Mortgage Advisors in Birmingham will always be open and honest, recommending the best options for your circumstances. Birminghammoneyman is here to take the stress away and answer any mortgage questions you have, both before and during the process.


One of the many perks of using a Mortgage Broker in Birmingham is that we have no ties with any banks, building societies or state agents. The work we do at Birminghammoneyman and the service we provide is purely for the customer. They are the heart of this company, and we only have your best interests at heart.


We have much experience helping and guiding many limited company owners, sole traders, partners that receive a salary, dividends or a mixture of the two. Just by utilising over two decades of mortgage industry knowledge, we can often find solutions for those who need our help.


We can use the wealth of 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?

Regularly, we contact customers who have faced a measure of difficulty when going direct to their high street mortgage lender for one reason or another. Some of these reasons can include;

  • Failed banks criteria
  • Fluctuating net profit
  • Pay structure
  • Credit score
  • Personal situation
  • Bank won’t lend enough

We recommend not to keep trying lots of other lenders without being completely clued into their strict lending criteria, as this can harm your credit score. As this could hurt your chances of getting a mortgage.

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Common mortgage

Your free mortgage consultation in Birmingham will last approximately one hour. We will then recommend a mortgage for you with no obligation for you to proceed and you can decide whether or not you wish to go ahead.

As your Mortgage Broker in Birmingham, we carry out a Fact Find to establish your needs prior to recommending the most suitable mortgage for you. A credit check is then required for an Agreement in Principle and then once you have provided all the relevant documentation and a valuation of the property has been carried out a formal mortgage offer can be issued

Our Mortgage Advisors in Birmingham recommend that you try and get your Agreement in Principle before you take up the decision of starting to view properties in Birmingham, to avoid disappointment. At the very latest you should obtain one prior to making an offer to assist your bargaining position with the seller.

An Agreement in Principle typically lasts for between 30 and 90 days depending on the lender. If your Agreement in Principle expires it can always be refreshed. If you need help obtaining one, our Mortgage Advisors in Birmingham can usually get one sorted for you within 24 hours of your application.

It can be possible to get a second mortgage on your home in Birmingham for debt consolidation or home improvements. It may also be possible to take out a mortgage on a second property if it is for your own use, the use of a family member, a holiday home or a Buy to Let.

To purchase a house in Birmingham, the minimum deposit with High Street Lenders is typically 5% but this can be higher if you have had previous credit problems.

If you have had credit problems you may still be able to get a mortgage but you will likely need to put down a higher deposit than usual, perhaps 15% of the purchase price.

You can get a mortgage in Birmingham once you have submitted at least one year’s accounts. Most lenders use your salary + dividend to calculate the maximum mortgage whereas others go off your net profit.

To prove income it’s usually three payslips for an employee and the latest 2 years’ accounts for Self Employed. In addition, you will need to produce proof of ID, address and 3 months’ bank statements.

Our free consultation in Birmingham typically lasts up to an hour or so. We can turn round an agreement in principle within 24 hours and a formal mortgage offer takes about three weeks on average. Before you know it, you will be moving into your new property in Birmingham!

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 Birmingham.

Step 3

Make an offer on the property in Birmingham 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 & Birminghammoneyman 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

© 2023 Birminghammoneyman

Birminghammoneyman - Office 1, Izabella House, 24-26 Regent Place, City Centre, Birmingham, B1 3NJ

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