Mortgages for Freelancers

2 min
Published on updated on

Being a freelancer shouldn't stop you getting the right mortgage. Becoming a freelancer takes guts! The freedom, flexibility and financial benefits it offers can be priceless, but it does come with some difficulties, including getting a mortgage.

A freelancer or someone who is self-employed does not have a regular income like an employee, their pay/salary will fluctuate from month to month, which can make it difficult to secure a mortgage. As a freelancer, you can make getting a mortgage as hard or as easy as you like. For sure, you can go to the High Street/Call Centre route. If you've tried already, you'll know the difficulty you face as a specialist borrower.

Routes to getting a mortgage as a freelancer

If you insist on going the traditional route, prepare yourself first. You'll face rejection, ludicrous and offensive offers and a ravaged credit file at the end of it. All with no guarantee of a mortgage, let alone one that reflects what you can truly afford.

Or, you can go with the smart, tried and tested route. Namely, speak to someone who understands freelance income and the freelancer lifestyle. More importantly, someone with a direct line to underwriters willing to accept a short-term contract as proof of income.

Freelancer Financials have been helping freelancer secure mortgages since 2005. Their expertise doesn't stop at knowing what lenders will and won't accept your application. They've been instrumental in helping banks and building societies develop tailored contractor mortgage lending criteria.

The Freelancer Financials' difference:

  • Wholly independent, with access to all freelancer-friendly mortgage lenders

  • Have helped banks and building societies devise their contractor lending criteria, so know precisely what to look for

  • Have been successfully getting mortgages for contractors since 2004

  • We understand freelancing, so can interpret freelance income to mortgage lenders

  • Borrow up to 5 times your annualised contract rate, subject to status

  • We can often use just your current contract, an up to date CV, 3 months' bank statements and proof of ID to get you a mortgage

All that said, the biggest difference is that we get to know you. Your situation, career status and ambitions - they all should play a part in your mortgage choice. You should not be penalised for being a freelancer, and Freelancer Financials can help with that.

Thinking about buying a property? Or ready to put in an offer? Speak to one of our specialist advisors today by completing this form.

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