Mortgage Advice in Hertfordshire at Bower Private Clients

At Bower Private Clients, our advisers have decades of industry knowledge and experience which can help you navigate the complexities of mortgage applications for entrepreneurs and the evidence you’ll need to provide. This can include recent bank statements, tax year overviews, and accounts prepared by a chartered accountant. 

If you’re a sole trader, company director, or part of a partnership, you may also need to supply detailed tax calculations and provide comprehensive details about your business’s profits and performance, and evidence of future business contracts. In some cases, if you are looking to apply for a self-employed mortgage, you may also need to provide evidence of ongoing work and financial stability.  

As a business owner, it is important to have a clear understanding of your finances, including your income, expenses, and tax obligations. This will help you in the future when you need to gather the necessary documentation to assist you in presenting a strong case to mortgage lenders when you are ready to proceed with your application. By working closely with a mortgage broker such as Bower Private Clients, you will receive tailored advice and support throughout the process, from helping you prepare the correct documents, to finding the right mortgage to suit your needs. 

In the UK, there are many specialist lenders and building societies who offer tailored mortgages for the unique circumstances of self-employed workers and entrepreneurs. These mortgage providers use underwriters to assess each application individually, rather than relying solely on automated systems. It’s important to note that your income from the first year of self-employment may be assessed differently by lenders, and you may be required to provide additional evidence, such as projected earnings or contracts, to support your application and get a mortgage. 

By speaking with a mortgage broker and providing documented evidence of your income and financial position, you can secure a mortgage that fits your goals, whether you’re looking to buy your first home, invest in a property, or remortgage your existing home. No matter your business structure, sole trader, limited company, or partnership, understanding your income and preparing the right documentation is key to a successful mortgage application. Which is why at Bower Private Clients, we offer advice and support so you can move forward with confidence and secure a mortgage that suits your ambitions as an entrepreneur.  

Yes, whether you’re self-employed or running your own business, entrepreneurs can often have multiple streams of income, including their salary, dividend payments, and business profits, as well as income from different businesses. This variety of income sources can make your financial situation appear more complex to most mortgage providers, however, with the right documentation and an experienced mortgage broker such as Bower Private Clients, an entrepreneur mortgage is possible with multiple income streams.