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Mortgages for Freelancers

Best Mortgage Rates

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Mortgages for Freelancers

    • 4.07% Initial
    • 5 year fixed
    • 6.6% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.10% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.14% Initial
    • 5 year fixed
    • 6.3% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.17% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.17% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 2 year fixed
    • 8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.20% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for Freelancers

Unfortunately, getting a mortgage as a freelancer is not as simple as it used to be before the credit crunch. As self-certification mortgages are no longer available, securing a good mortgage deal requires a bit more research.

Freelancers often have trouble proving their income when applying for a mortgage. Some mainstream mortgage lenders reject mortgage applications from freelancers because their earnings cannot be assessed traditionally due to irregular income streams, among other factors.

In addition, freelancers who are designated as company directors may not benefit from the tax advantages of this designation – a low wage with most income dividends or most of your assets held in company accounts – can pose a problem unless you can find a mortgage broker willing to look beyond your ‘low’ salary and assess your loan application based on the net profits of your company.

Get the best rates on mortgages for freelancers

As a freelancer, there are several things you can do to maximize your chances of getting accepted and getting a good rate from mortgage lenders. These include:

  • Your application may be assessed on a case-by-case basis by a lender with experience with freelancer mortgages.

  • If you take on work from multiple sources, make sure you have a copy of your contract

  • Prepare your finances before you start. Mortgage lenders want to see your most recent SA302 form and two years' worth of accounts. HMRC sends out a tax calculation form annually that shows the lender how much tax you owe.

  • Put down a high deposit - the higher the deposit, the less risk the lender takes on.

  • Maintain a good credit record

 

To investigate your finance options as a freelancer call our broker team or fill in our call back form -  speak to our independent mortgage broker team, who will be able to offer impartial advice or you can call us on 0117 403 3464

Freelancer Mortgages Get Quotes
Freelancer Mortgages Get Quotes