To have a great business that’s growing, making good profits and putting money in your bank account, but still have problems getting a mortgage. It’s a more common problem that many people might realise, especially now that mortgage rules have become so strict.
The reason is that the systems mortgage lenders use to evaluate loans are more suited to employed borrowers working for a big company rather than entrepreneurs, consultants or freelancers, no matter how successful they may be.
That’s mainly because the income generated, even by profitable businesses, can be variable and unpredictable and, at first sight, a company’s accounts may be surprisingly complex and not present the earnings figures very clearly.
At Entire FS, our mortgage specialists work closely with qualified accountants to carefully interpret client’s business accounts and present income information in the best possible light. We also have privileged knowledge of how the different banks and building societies assess this kind of unorthodox income data which can make a massive difference to the kind and size of mortgages available.
As professional mortgage advisers, we save clients the time and hassle required to produce complex proof-of-income and we know where to look to find lenders who take a favourable view of this kind of specialist mortgage lending.
That means clients can stay focused on their businesses – that’s how the monthly payments are going to get paid, after all. While we focus on getting that mortgage!