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New Homes Hotline – 01908 870017
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How to Get a Mortgage as a Business Owner

January 11, 2022 By Mortgage Light Leave a Comment

Running your own business comes with a wealth of benefits and freedoms. However, when it comes to getting a mortgage as a business owner, you may need to jump through a few more hoops than someone who is a contracted employee.

Whilst perhaps more challenging, it’s certainly not impossible to secure a mortgage as a business owner. There are plenty of lenders out there who are familiar with business owners and willing to lend. In this article, we are going to explain a few things that you should know about how to get a mortgage as a business owner. [Read more…]

Filed Under: Getting a mortgage, Self-employed Tagged With: business, business owner, business owner mortgage, business owners, company director, getting a mortgage, limited company, partner, partnership, remuneration, self-employed, self-employed mortgage, sole trader

How to Get a Mortgage Without Payslips

December 15, 2021 By Mortgage Light Leave a Comment

Whilst there used to be a time before the last recession, where you could obtain a ‘Self Certification Mortgage’ which didn’t require any proof of income, this is now largely no longer the case. Today, proving your income is an essential part of getting a mortgage.

Mortgage lenders will use your proof of income to help determine your affordability for a mortgage. This also determines the maximum amount that they might be willing to lend to you. Most lenders will ask you to provide a number of recent payslips (typically a minimum of three), along with your mortgage application as evidence of your earnings. [Read more…]

Filed Under: Getting a mortgage, Self-employed Tagged With: business owner, CIS payslips, contractor, getting a mortgage, high net worth, high net worth individual, limited company, P60, payslips, proof of income, self-employed

Getting a Mortgage With a Limited Company

October 11, 2021 By Mortgage Light Leave a Comment

Getting a mortgage offer when you are the director and owner of a limited company can sometimes be challenging. This is particularly true when trying to evidence your earnings. Unlike most salaried employees, the self-employed and most company directors will not have a simple straightforward contracted income that can be evidenced via monthly payslips and a P60. [Read more…]

Filed Under: Getting a mortgage, Self-employed Tagged With: business, business owner, business owners, company director, director, dividends, getting a mortgage, limited company, pension, pensions, remuneration, self-employed, self-employed mortgage, tax

What do I Need for a Mortgage Application?

December 2, 2020 By Mortgage Light Leave a Comment

If you are planning on applying for a mortgage, then it is important to prepare for this as much as you can in advance of submitting an application. You should also start collecting the supporting documentation that will be needed as part of the lender’s assessment process, and in addition, speak to a mortgage advisor for advice and to help you with your budget. [Read more…]

Filed Under: Getting a mortgage Tagged With: applying for a mortgage, credit check, credit score, deposit, first-time buyer, mortgage agreement in principle, mortgage application, mortgage deposit, mortgage in principle, self-employed

Self-Employed Mortgage – How Does it Work?

October 27, 2020 By Mortgage Light Leave a Comment

When you are self-employed, you may wonder how much you can borrow when taking out a mortgage. The nature of being self-employed often means that your income is not fixed each month/year. Without the security of a contract of employment, you may find it difficult to persuade some lenders that your income is stable enough to allow them to approve you for the mortgage that you want. [Read more…]

Filed Under: Self-employed Tagged With: self-employed, self-employed mortgage

Mythbusters: Getting you onto the ladder

July 8, 2020 By Katherine Leave a Comment

Mortgage Light’s experts shared their tips in our first virtual mortgage clinic

house keys

Last week, we held our first, live online mortgage clinic to bust some myths around mortgages, specifically for those of you buying your first home. Our biggest takeaway? The pandemic (and the economic uncertainties it has created) doesn’t seem to be deterring first-time buyers in Milton Keynes. [Read more…]

Filed Under: Here to help Tagged With: furlough, mortgage advice, self-employed, self-employed mortgage

Remortgaging on Maternity Leave

June 27, 2020 By Mortgage Light Leave a Comment

With thousands and thousands of babies born each year in the UK, remortgaging whilst on maternity leave is a common concern. Remortgaging during this period can sometimes cause confusion and worry. If you’re having a baby, your life and your financial situation is likely to have changed a lot since your last application. [Read more…]

Filed Under: Remortgaging Tagged With: maternity leave, remortgage, remortgaging, self-employed, self-employed mortgage

Related Pages

Below is a list of our related pages on this subject.

Categories

  • Case Study
  • Getting a mortgage
  • Help to Buy
  • Here to help
  • Managing your mortgage
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Recent Posts

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Free Initial Consultation

All of our brokers deal with the whole of the mortgage market. It doesn’t matter what the question or when you want to speak to us, we have brokers available on the phone or face to face seven days a week. Whether you are just thinking of buying a home and have no idea where to start, a seasoned investor or someone looking to better your current mortgage product, we are happy to help andchat over ideas free of charge.

So we can give you plain and simple advice we will run through some basic questions to help us tailor products to suit your needs. Upon us taking your application forward we will write to inform you that we have given you advice and give you a Key Facts Illustration breaking down the important elements of the product and the fees involved.

For us to take your application forward to a lender we charge an upfront administration fee of £349. For our returning customers looking to renew their mortgage product this fee reduces to £199. We also receive commission from the lender.

A fee of £349 is payable on application of the mortgage. We will receive commission from the lender in addition to the fees you pay. Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. As with all insurance policies, conditions and exclusions will apply.
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