How do bad credit self-employed mortgages work?

Bad credit self-employed mortgages are like regular mortgages but may have stricter requirements. Lenders will check your credit history, and you might need a larger deposit, and face higher interest rates to offset the risks taken by the lender.

Since you’re self-employed, you’ll also need to provide documentation to verify your income, such as full company accounts if you are a limited company or Tax calculations (SA302’s) and supporting tax overviews if you are a sole trader, company & personal bank statements. Lenders typically assess your income stability and ability to repay the mortgage over the term applied for based on this information.

Overall, bad credit self-employed mortgages require careful consideration and preparation.  Here at AMA, our specialist mortgage advisers understand your situation and know which lenders to approach depending on your situation.

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