Rob Barnard on mortgages for the self-employed

Posted 27-06-2018

"The number of self-employed workers in the UK has increased by over 1 million in the last decade," [i] says Rob Barnard, Director of Sales here at Pepper Money.

There are 4.8 million self-employed people in the UK [ii] and it's those who are newly self-employed that find it most challenging to get a mortgage, because many high street banks ask for 3 or more years of accounts. 

Rob explains why Pepper are different and how we can help.


Hi. I’m Rob Barnard, Director of Sales at Pepper Money. 

I’d like to talk to you about options for your self-employed clients.

In the eighteenth century, Napoleon is rumoured to have called Britain a nation of shopkeepers. If he was around today, he would no doubt refer to us as a nation of entrepreneurs.

The number of self-employed workers in the UK has increased by more than one million in the last decade, from 3.8 million in 2008 to 4.8 million in 2017.

And this growth looks set to continue. Startup Britain, which is a national campaign to encourage entrepreneurs and enterprise in the UK, says that more than 2,000 new businesses are started every day.

It is the newly self-employed that find it most difficult to secure a mortgage because many mainstream lenders will want to see at least three years’ worth of accounts.

At Pepper, we specialise in helping you to find a home for your interesting cases that don’t fit the high street.

All of our mortgages are available to the self-employed and we can base our lending decisions on just one year’s finalised accounts or SA302.

For sole traders, we can use net profit to establish how much we will lend, and we will use salary and dividends for company directors.

We also have options for your employed clients who need a lender that is able to consider additional income sources. We can accept 100% of any secondary income, as well as 100% of overtime, shift allowance or regular bonus.

And we can look at regular benefits such as Working Family Tax Credit and Child Benefit as well as non-court order maintenance payments.

In short, if it’s an interesting case, we’re interested.

If you’re interested in finding out more, visit our website at - No ‘.com’ required.

[i] Office for National Statistics, May 2018

[ii] Office for National Statistics, May 2018

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