Our Customers rate us 4.6 out of 5
Dedicated mortgage advice for sole traders.
You may be a sole trader, but your mortgage is one thing you don’t have to do alone. Our team of friendly advisors are here to help you achieve success.
Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.
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Useful links to begin your Mortgage Journey
Retained Profit
Retained profit mortgages can increase your chances of approval and help you borrow more. Get started today by talking to one of our advisors!
LLP
Are you in an LLP and looking to buy? Our trusted advisors specialise in helping self employed customers achieve mortgage application success.
Decreasing Profits
Don’t let reducing profits reduce your optimism for the future. Our team of expert advisors are here to show you the way to the right mortgage deal.
Ltd Company Directors
Ltd company directors don’t need to fear the mortgage market. Our team of expert mortgage advisors are here to take the headache out of the process.
Can I get a mortgage as a sole trader?
Yes! Being self-employed doesn’t mean you can’t get a mortgage. It might feel like a lot of hard work to find a lender who understands your situation, but a specialist mortgage advisor will be able to guide you to the right one.
Whilst self-employed people might face additional challenges when applying for a mortgage, there is a range of products on the market designed with sole traders in mind. The trick is applying for the right mortgage deal the first time around – something our friendly team of mortgage brokers can help you with.
Supporting self-employed mortgage applicants.
Worried about the mortgage process as a sole trader? You don’t have to be. Our friendly advisors are here to guide you through every step, making sure that you have all the advice, information and encouragement you need to achieve mortgage success when you’re self-employed and perhaps concerned that mainstream lenders won’t even consider you.
We’ll take the time to understand your circumstances and what you need from us and plot your route as a sole trader to the right mortgage deal. With us, a self-employed mortgage is simpler than you think.
Let's get the ball rolling.
We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!
Check your credit file.
In order for us to assess your credit history and suitability for different mortgage products, you will need to check your file.
Finding The Best Sole Trader Mortgage Deal For Your Circumstances
If you are a sole trader, you may be concerned that the mortgage market isn’t open to you. There is a range of products out there specifically tailored to the needs and circumstances of self-employed people.
Whether you’ve been declined previously, or are fearing the worst, our friendly team can get you back on track. Our specialist self-employed mortgage advisors are here to help you get the finance you need to achieve your home ownership dreams. The right mortgage deal for you and your business is just around the corner.
Can I get a sole trader mortgage with bad credit?
If you have bad credit, you might be scared that no lender will accept you. Don’t worry; plenty of people are in the same boat, and the good news is that mortgage approval isn’t off the table. Many lenders will be prepared to consider applications from those with low credit scores, you just might have to look beyond the high street banks.
Whilst you may face stricter terms and higher interest rates, the right mortgage advisor will be able to find the best deal available to your circumstances. Get in touch with our friendly team today with your credit report ready, and we can talk through your mortgage options.
Turning Your Nightmares Into Dreams
When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.
What are the requirements for a sole trader mortgage?
If you’re a sole trader applying for a mortgage, you will likely be asked to demonstrate that you have been trading for 12 months at a minimum, with more trading history improving your chances of satisfying a mortgage lender. Since self-cert mortgages, which allowed individuals to borrow without having to prove their income, are no longer available, having been banned by the FCA in 2009, lenders will use financial documentation, including bank statements, to determine your affordability and how much they are prepared to lend.
For a sole trader mortgage, you will also have to pass all the usual credit history checks and provide a deposit. Whilst a good credit score and a large deposit are going to go down well, that’s not to say a self-employed person is required to have these things. When the Bank Says No has helped sole traders in a range of different circumstances achieve mortgage success.
Does the nature of my business affect my application with a mortgage lender?
It’s rare for a lender to favour a specific type of business over another. However, global events like the COVID-19 pandemic did see mortgage lenders considering the business type and how that was affected by current government restrictions. The good news is that now this situation has stabilised, the type of business is unlikely to hinder the chances of mortgage success.
Above all, lenders are looking to assess your business accounts, in particular your income. Provided you can verify your affordability by evidencing steady and sustainable cash flow, the likelihood of mortgage approval is high. Satisfying the affordability criteria also means that the self-employed mortgage deals you are likely to be offered are going to be no different to someone applying for a mortgage in regular employment.
Frequently Asked Questions
Is a sole trader mortgage classed as a commercial mortgage?
How much deposit is needed for self-employed mortgages?
Trusted advisors for self-employed mortgages.
However long you’ve been in business and whatever your particular circumstances, our team of expert advisors are here to help you achieve your mortgage. We know the mortgage process can seem complex for self-employed people, but we’re here to take away the hassle.
When the Bank Says No and our expert brokers have already enabled sole traders across the UK to buy the home of their dreams. If you want to get started on your property-owning journey, our advisors are here to help you get the right result from mortgage lenders.
What Our customers say about us
Our Customers rank us 4.6 out of 5
We feel so fortunate to have found WTBSN
We found WTBSN after landing in a really tricky situation. We were out of term on our current mortgage and our existing broker had exhausted all options to re-mortgage due to the complex nature of our holiday let property (Grade II listed, timber frame construction and above commercial). Working under considerable time pressure due to the financial penalties being imposed by the existing lender, Brian was relentless in his search for a solution that would allow us to refinance a property that was on face value mortgageable. Thankfully, he didn’t give up and nine months later, we completed on the re-finance. We feel so fortunate to have found WTBSN and would like to thank Brian and the team sincerely for going the extra mile. We couldn’t have done it without you!
Rachel Reeves
Simply the best
I will never use another mortgage broker in all my time In property, these guys are the best at communication, customer service and keeping you informed. They are a level above every other broker I’ve come across and they actually get things done.
Emma, Samantha & Ashley have been fantastic in assisting me with 2 mortgages now and they’re superb at what they do. I wouldn’t hesitate to reccommend them to anybody out there who needs a mortgage sorting.
John Burton
I have been dealing with ben
I have been dealing with Ben @ When The Bank Says No. He has been great!! Professional, kept us up to date the whole way and made the entire process so simple. I would most definitely use him again and have already passed his details on to a family member. Thank you for all your help.
Elise
Thank you for your amazing support
Thank you for your amazing support and service during a really difficult time in my life. 5* is just not enough to demonstrate the level of support received. These guys go above and beyond. A personal service, with kindness and compassion. I highly recommend. If you’re struggling with your mortgage, then have a chat to this team. I cannot thank them enough for everything they have done.
Nabila Fowles-Gutierrez
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