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Self employed mortgages: an overview

Written by Ipswich Building Society

30 Oct 2018


Contractor, Professional, Self employed, Specialist

2 min read

Many self employed applicants struggle to get the mortgage they need, often failing to meet the rigid, automated decision making processes of other lenders. At Ipswich Building Society we manually underwrite in-house where an underwriter is able to assess each case on its merits.

In addition to our full range of residential mortgage products, which are available to self employed applicants with more than two years’ accounts, we also have a self employed range available up to 90% LTV for those cases which require more flexibility.

Why choose us for your self employed clients?

  • Specialist & Professional products available up to 90% LTV
    1 years’ accounts/income verified
  • Contractor products available up to 90%
    For cases assessed under the Contractor Policy the Society will require a minimum 12 months contract history in the same line of work. If there is less than 3 months remaining on the existing contract the Society will require a minimum of 2 years' contract history.
    Day Rate x 5 days per week x 46 weeks P.A.
  • Consider lending to professionals with less than 1 years’ accounts
    Up to 90% LTV where working for an established partnership of 3 years or more
    Up to 75% LTV with less than 1 years' accounts and working for an established firm
  • Zero hours contracts acceptable
    Subject to 18 months’ employment history and a P60
  • New Builds acceptable
    Houses throughout England and Wales and flats in our heartland area and London
  • Fee free overpayments up to 50% of the loan
    Applies to all products in range

 For more information please see our self employed product page or call us on 0330 123 1073.

This article was published under our previous name of Ipswich Building Society. We changed our name in 2021 – get in touch if you have any questions.

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