The last year has been crazy - what else is there to say?
One of the questions we have been asked the most over recent months is whether self-employed people will be able to get a mortgage if their income has been affected by the pandemic. We’ve spoken to a large handful of the top mortgage lenders to ask them about their criteria and how they will be viewing self-employed applicants over the next year and here is what we have found out.
There are certainly going to be some lenders that will not consider any applicants who have been affected by the pandemic in any way and have had to claim SEISS or bounce-back loans over the last year. However, for the most part, its good news! There are plenty of lenders who will consider self-employed applicants for a mortgage, regardless of the effects of Covid.
The key thing we have found is that it’s important you can show that you’re back trading as normal, and then you will have options!
Most lenders will be reviewing self-employed applicants on a case-by-case basis, taking into account previous earnings and what grants have been received, and we appreciate that everyone’s circumstances are very different. Speak to an advisor to review your options!