Dylan’s Pro-TIP
Getting a mortgage based on your recent profit doesn’t have to be complicated!
I understand that running your own business offers incredible flexibility and independence, but it can also make securing a self-employed mortgage feel challenging.
Without a specialist broker, it’s tough to know where to start. That’s why I wanted to share this tip to simplify the process for you.
As a specialist in self-employed mortgages, I have access to lenders that accept applications when you have seen a jump in your profits.
Unlike others, we focus on your most recent year’s profits instead of averaging your earnings over two years. This often means you’ll qualify for a much bigger loan amount without having to pay extortionate interest rates.
The reality is online mortgage calculators and other mortgage companies don’t consider all these factors which is why many of you are being misled by the figures being provided.
For sole traders it’s important to understand your most recent net profit figure to determine how much you’ll be able to borrow.
For company directors, you’ll need your salary and dividends, net profit before tax and net profit after tax.
Knowing these figures is crucial and if you’re not quite sure then we’ll work with your accountant to save you the hassle.
This is just one of the many ways you can make the most of your increased profits and secure the mortgage you deserve!
