SELF-EMPLOYED AND SPECIALIST LENDING
If you have tried to apply for a mortgage as a self-employed borrower already, you know how difficult it can be.
If this is your first mortgage as an self-employed person, you are in the right place for great advice.
Lenders often see business owners as high risk and financially unstable, making the lending process particularly difficult for those who pay their own wages.
I don’t shy away from tricky lending situations, I have been supporting entrepreneurs with their mortgages in Takapuna and the North Shore for over 20 years.
As your mortgage broker, I have the experience and expertise to find the best lenders and mortgage options for self-employed business owners.
Self-employed business owners are busy, my services will save you time and keep you on track for tight banking deadlines, better yet my services to you are free.
I am paid a commission by the bank, only when your mortgage is secure and successful.
to discuss lending options for the self-employed
Part of my service offering is to walk you through the complete process and keep things on track. I will ensure you go through all these steps on time and with the right documents in tow. Here you can get an idea of the lending process and my service to you.
Meeting and Chat
Self-employed people are some of the trickiest to secure lending for. It’s important that we spend the time, so I can understand your business and the financials around it, so we can best present your application to the lenders.
Summary and Action Steps
To keep your mind clear and free for other things, I will send you a summary of our initial meeting that you can refer to whenever you need. I will also include a full list of the action steps we need to take to prepare for the next steps of the lending process.
Indicative Financial Assessment
Along with the summary I will do a very detailed indicative financial assessment. This means I will calculate your costs and expenses to compare your income to the expenses you would have in a new home with a mortgage. This serves as a starting point to determine what we can achieve through a mortgage.
Self-Employed Buyers Checklist
- There’s many documents to put together and strict timelines once the mortgage process gets underway. This checklist helps keeps us on track and ensures no documents are missed in the process.
Self-Employed Application Success
The documentation for business owners can be lengthy, but it is crucial for successful applications. We will work together to prepare the documentation based on each lender’s specific lending criteria.
Top 5 Important Characteristics for Lenders
- Entrepreneurs typically have the toughest time meeting the requirements for a lenders risk assessment. I know the characteristics and how to best highlight these to the lenders. In cases where your situation may still not meet these characteristics, we will create an action plan to make improvements before submitting an application.
Total Cost of Home Ownership
To ensure you are fully prepared for the costs of homeownership, I provide indicative costs for your new home including, mortgage fees, insurance, rates, legal fees, valuation costs, and much more.
Options for Deposits
Self-employed borrowers do have several resources they can look to, to raise their deposit. We will explore every avenue available to ensure you have a healthy deposit to start your mortgage.
This is a quick overview of securing a mortgage to give you an idea of the process. When you work with me, I will take you through this process to ensure you find the best lender and mortgage available to you. If you are ready to get started or want to ask a few more questions, please don’t hesitate to contact me.