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Mortgages for the Self Employed

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Call now to discuss your options - 01538 380047

Those that are Self-employed, wanting to apply for a mortgage, can find themselves hampered by today’s tougher lending rules and may struggle to meet the rigid requirements imposed by some lenders.

At Leek United Building Society we want to help give applicants a better chance to getting the mortgage they need.

Self-employed customers have access to the full range of mortgage products that we offer, subject to criteria.

So, to avoid you taking valuable time away from your business it will be worth you checking the following criteria before you contact us:

  • We will require a minimum 2 years accounts.
  • Income used is the average of the last 2 years or latest year’s income if this is lower.
  • Employed Directors with shareholding of 25% or more are classed as self-employed.
  • Sole Traders and Partners, the applicant’s share of net profit is used for income.
  • Directors of limited companies, the applicant’s salary and dividends are used as income.
  • Retained Profits and Directors Loan Accounts cannot be used for income purposes.

All mortgages are subject to status.

Please call us on 01538 380047 to discuss your options (our general enquiries team are available five days a week 9am - 5pm Monday to Friday) or complete the enquiry form below and we will call you.