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.
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
|Initial Rate||APR||Description||Early Redemption Charge||Lenders setting up costs|
|1.28%||3.3%||Fixed until 31/12/2022||2% until 31/12/2021 & 1% until 31/12/2022||Max 60% loan to value.|
|1.45%||3.3%||Fixed until 31/12/2025||5% until 31/12/2021 followed by 4% until 31/12/2022, 3% until 31/12/2023, 2% until 31/12/2024 & 1% until 31/12/2025||£1499 product fee. Max 60% loan to value.|
|1.69%||3.4%||Bank of England base rate plus 1.59% for 24 months||no early repayment charges||£999 product fee. Max 60% loan to value.|
|1.99%||2.0%||Lifetime Discount Variable||£150, plus 3% in year 1, 2% in year 2 & 1% in year 3||Max 75% loan to value.|