Survey says good news for Self Employed borrowers

good news

Results of our Self Employed Mortgage Borrowers Survey

Our survey shows good news for our self-employed mortgage enquirers and has given us great encouragement with regard to those self-employed respondents.

Call us now for advice on self employed mortgages on 020 8979 9684

Self Employed trading style

45% of our respondents were sole traders, 45% are limited company directors and 10% are partnerships
Lenders offer mortgage lending for the self-employed with all types of trading style

Limited company retained profit

45% of our limited company directors are retaining profit within their business.
There are a number of mortgage lenders that will underwrite income for directors mortgages including retained profit

Limited company shareholding

70% of our limited company directors are majority shareholders.
Where mortgage lenders will include retain profit they like the applicant to be a majority shareholder.

Time in business

87% of our respondents have been running their business for at least 12 months.
Lenders require at least one year’s trading history

Increasing profit

Three quarters of our respondents have seen profit increasing year on year.
If profit is decreasing lenders will work from the lower figure.

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