Mortgages – Self employed

Mortgages - Self employed

About self employed

It wasn’t long ago when lenders required minimal proof of income from the self employed. After the credit crunch, their criteria tightened considerably.

Kingsway Mortgages are still able to arrange competitive mortgages for a whole range of self employed people. That includes – people who own limited companies, sole traders, partnerships etc. Our service in this sector includes self-employed first-time buyers, home movers and remortgages.

Case Study

An applicant came to Kingsway seeking a mortgage of £450,000 on a £600,000 property. She had been employed for the past 3 years at a salary of £115,000, but had recently become self employed.

Most lenders require 2 to 3 years accounts, but we managed to persuade the lender that because she was working in the same industry in which she already had a track record of consistent income, she was a good risk.

Call our Self Employed Team on

020 7383 4181

Best buy table

Self employed

Initial Rate APR Description Early Redemption Charge Lenders setting up costs
1.24% 4.7% Discounted rate for 2 years 2% for 2 years £2149 lenders fee. Max 80% loan to value.
1.38% 4.5% Fixed until 31/10/2020 2% until 31/10/2019 followed by 1% until 31/10/2020 £1995 lenders fee. Max 60% loan to value.
1.95% 2% Variable rate for the term of the mortgage None £999 lenders fee. Max 50% loan to value.
1.82% 3.8% Fixed until 31/01/2024 5% until 31/01/2021 followed by 4% until 31/01/2022, 3% until 31/01/2023 and 2% until 31/01/2024 £1995 lenders fee. Max 60% loan to value
2.54% 5.4% Discounted rate until 30/09/2021 3% until 30/09/2020, followed by 2% until 30/09/2021 0.5% lenders fee plus £299 booking fee. Max 95% loan to value. Family step mortgage.