Mortgages For Business Owners With Two Year Accounts

Are you looking to secure a 2 years self-employed mortgage?

Have you previously been turned down for a mortgage? Was this because your business has not been operating long or it has recently made changes?

Active can help you to secure a mortgage. We don’t just turn people away. We work with borrowers to find a mortgage deal that a hard-working, self-employed entrepreneur deserves.

Whether you are just starting out or you are looking for a self-employed mortgage for two years accounts. We can help.

Self-employed mortgage applicants to provide accounts

Ever since the financial crisis of 2008/2009, mortgage lenders no longer accept self-certification. This is not seen as a valid way to approve a mortgage for a self-employed applicant. Therefore you will require proof to be successful in your application.

Legally, you now need to prove your earnings. This is to ensure that you can afford to pay back the loan. This also solidifies to the lender that they have made a responsible decision in giving you a mortgage.

An SA302 form from HMRC is often all that is needed to show your income for each year. This also clearly states the amount of tax that is owed. The SA302 form is available to download from the HMRC website. 

In the majority of cases, lenders request at least three years of accounts to secure a mortgage. However there are ways to secure a mortgage for self-employed less than 2 years, however, it can be a challenge. If you only have one year of accounts you are likely to find it harder, but we can still help you. Please see our one-year accounts page for more details.

Securing a mortgage with two years of accounts

As a self-employed business owner applying for a mortgage, you need to provide an SA302 form or full accounts. If you are new to trading or have made recent structural changes, you may need to show that your business is viable. This will showcase to the lender that your business is reliable enough to pay back repayments. Mortgages for self-employed with 2 years accounts are specifically to help those with less financial evidence.

One way you can counteract the lack of finances is by providing contracts for future work. This alongside a detailed business plan and a projection report from a chartered accountant are types of typically requested evidence. This can therefore enable you to secure the funding you need for your dream home.

Some high street banks will provide a mortgage for a self-employed applicant with only two years of accounts. However, there are also specialist lenders available who have fewer restrictions and specialise in self-employed mortgage applicants.

Finding those specialist lenders and securing a decent mortgage deal is no easy mission. You should seek the assistance of an expert mortgage adviser: someone who has helped copious numbers of clients in similar situations.

Mortgage advisers for the self-employed

Active has a team of advisers who help applicants daily. They will help find the right lender and secure the mortgage deal you deserve. Running a business takes time and energy, so don’t waste those precious resources on finding a mortgage deal. Let Active’s experts do that for you.

Arranging a consultation is easy. Contact us today and we will work with you to find out what you can afford. Let us know what kind of property you want to buy and give us more information about your situation. This will help us find the right mortgage deal for you.

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