Imagine if self-employed customers with complex credit incomes thought they had nowhere to turn for a mortgage

Posted on:
July 14, 2022
Posted by:
Bluestone Mortgages

Self-employment has contributed enormously to employment growth in many industries. Self-employed customers may have complex income, believing they struggle to get a mortgage with most lenders, but this isn’t always true.

Our customer story

Michelle wanted to raise capital on her residential property for business purposes. After being employed as an artist for many years, she decided to take the plunge and set up her own Ltd company, making her self-employed as of June 2021. Michelle has only been trading for 12 months, but her SA302 does not reflect a full 12-month period; this only shows the period for the tax year. Michelle assumed she would need to use the full 12-months income to raise the funding she needed to buy a new studio and art supplies.

Our response:

At Bluestone, we accept self-employed clients that have been trading for a minimum of 1 year. Where applicants have been trading for less than two years, we only require an accountant’s certificate to verify the income – this can cover any 12-month rolling period. Not only were we comfortable with Michelle being self-employed for one year, but we were also able to use the full income from June 21 – June 22. In the end, Michelle was able to borrow the money she needed to upgrade her studio and supplies!

Click here for more information on how we can help your self-employed customers. Alternatively, give us a call on 0800 368 1833 or request a call back here.

Call us

Our lines are open

Mon-Fri 9:00am – 5:30am.
Calls may be recorded.

Your BDMs

We're transferring you to another website

You've clicked a link that takes you off of our site. No need to panic!

Just click the continue button and we'll take you through to the other site.
If you do not wish to proceed click below to return to our website.