Can I Get A Remortgage, While Self Employed?
If you are self-employed and looking to remortgage your property, there are a few criteria you will need to fulfil. To start with, let’s look at the definition of self-employed. You are self-employed if you run your own business. Even if you only work with one main client, if you send them invoices rather than getting a pay slip every month, then you are self-employed. You will also know if you are self-employed if you handle all of your own taxes and national insurance contributions.
If you are self-employed and looking to remortgage an existing property, you will need to speak to your mortgage advisor. Just like a self employed mortgage, your mortgage provider will need to see evidence of earnings going back at least two years. This means that if you are newly self employed, you may need to wait a while before applying or shop around for a different provider. In general, a mortgage provider will want to see proof of past income, proof of future income and a strong credit score.