Self-Employed Mortgage Specialists in Poole

A: At Bay Mortgages, we understand that every individual's financial situation is unique, particularly for self-employed clients or those with non-traditional income streams. While some mortgage lenders may require up to 3 years of accounts to assess your affordability and financial stability, this is not a universal rule. We work closely with a variety of lenders, some of whom may accept as little as one year of accounts or other forms of income verification. Our goal is to provide tailored mortgage advice and find solutions that best fit your circumstances, whether you are a first-time buyer, looking to remortgage, or interested in a buy-to-let property. For personalized advice, we recommend booking a consultation with one of our experienced advisors who can guide you through the requirements and help you prepare the necessary documentation. Serving the Poole and Bournemouth area, Bay Mortgages is committed to making your mortgage journey as smooth and stress-free as possible.

A: Yes, you can use retained profits to secure a mortgage with Bay Mortgages. If you're a business owner, especially if you're self-employed or running a small to medium enterprise, retained profits in your business can be a vital factor in your mortgage application. At Bay Mortgages, we understand that your financial situation might not be as straightforward as a traditional salaried employee. Serving the Poole and Bournemouth areas, we specialize in providing independent mortgage advice tailored to your unique circumstances. When applying for a mortgage, we look at your overall financial health, including retained profits, as they reflect the profitability and stability of your business. However, the process can be complex, as different lenders have varying criteria for evaluating retained profits. Our team of experts will guide you through the process, ensuring that your retained profits are presented in the best possible light, helping you secure the mortgage that fits your needs. At Bay Mortgages, our goal is to support first-time buyers, those looking to remortgage, buy-to-let investors, and self-employed individuals by offering professional and personalized mortgage advice. Contact us to discuss your specific situation and let us help you explore your mortgage options using retained profits.

A: Yes, at Bay Mortgages, we specialize in helping self-employed individuals, including those on the Construction Industry Scheme (CIS), secure the mortgage they need. Lenders typically view CIS workers favorably because they receive regular income through their CIS statements. To improve your chances, it’s beneficial to have at least 6 to 12 months of consecutive CIS statements and demonstrate a consistent income. Additionally, maintaining good credit history and having a substantial deposit can further enhance your mortgage application. Our team at Bay Mortgages offers personalized advice and support to guide you through the process. Serving Poole and Bournemouth, we are committed to making homeownership accessible and straightforward for all our clients.

A: Yes, Bay Mortgages may average your income when assessing your eligibility for a mortgage. This is especially relevant if you are self-employed, have multiple income sources, or receive bonuses and commissions. Averaging income helps to provide a more stable and realistic view of your financial situation over time, ensuring that you can comfortably afford your mortgage repayments. Our advisors at Bay Mortgages, located in Poole & Bournemouth, specialize in providing independent mortgage advice and will guide you through this process to ensure that your unique financial circumstances are accurately represented.