Mortgage Strategy published a thought-provoking article last month. Its premise suggests that self-employed borrowers get a raw deal with mortgage lenders.
Harsh, you might say. But I agree with the content…to a point.
The majority of self-employed workers do still struggle to prove their mortgage affordability.
The problem is often that they try to get approved at their local or a High Street branch. But a generic advisor doesn’t understand (or can’t use) income listed as a net profit.
If the system’s broke, get a broker to fix it
So, what’s the answer? Do you forfeit the ability to buy your own home if you work for yourself?
Continue reading about Determining relevant self-employed income and lending criteria