Advice, homeowner loans, information and guides from homeowner loan brokers. If you are self-employed, finding a homeowner loan can be more difficult. Find advice, information and guides on homeowner loans for the self employed, discharged bankrupts, IVA homeowner loans, homeowner loans with CCJ's, information on poor credit and bad credit homeowner loans, advice on homeowner loan arrears, guides on self employed homeowner loans, homeowner loans with county court judgements and solutions for poor credit homeowner loans through specialist homeowner loan brokers.

A self-employed person is someone who runs their own business and works for themselves without an employer.

Although technically employed on a PAYE basis by their own company, directors of small owner/manager-run limited companies, will generally be classed by homeowner loan lenders as self employed when it comes to applying for a homeowner loan or secured loan.

For people who are self-employed, or who are working on a contract basis, or who have an irregular or variable income, it will usually be more difficult to get a homeowner loan than it is for someone who is a PAYE employee and who can easily prove their income.

Anyone who is self-employed will usually find it harder to prove their income than someone who is a PAYE employee of someone else. This can be a problem for many homeowner loan lenders, as they like to have clear proof of your earnings before they will agree to let you have a homeowner loan.

The UK has over three million self-employed individuals. So this lack of flexibility by many homeowner loan lenders is a problem that affects a large number of people. This is despite the fact that many company directors and self-employed people often earn more than many salaried employees.

It is easy for employed people to prove their income to a homeowner loan lender. Employed people can use their payslips and P60 as proof of salary. But for self-employed borrowers, there is no such straightforward equivalent.

Instead of payslips, self-employed homeowner loan applicants may be asked to provide audited business accounts showing what their income has been over the last three years. However, in many cases, these accounts will not give an accurate reflection of how much money a self-employed person is making. This is because if the accountant who prepared the accounts is doing his job properly, he will have helped the self-employed person or business owner to offset as many allowable expenses as possible against tax. This has the effect of reducing the self-employed person's net profit - and it is this net profit from the accounts which the homeowner loan lender will use when calculating the size of homeowner loan they are prepared to offer.

The situation is even worse for people who have only been self-employed for a short period of time, as they may not have been in business for long enough to have had three years' worth of accounts prepared.

Fortunately, there are a growing number of homeowner loan lenders who specialise in homeowner loans for self-employed people. These homeowner loan lenders understand the different and varied working patterns of self-employed homeowner loan applicants, contract workers, and people whose jobs are seasonal or whose income comes from multiple sources.

Self employed homeowner loan lenders will assess each homeowner loan applicant's case individually rather than just applying a series of one-size-fits-all income tests.

If you think a self-employed homeowner loan may be right for you, please fill in our enquiry form and we will arrange for a homeowner loan advisor who specialises in helping find homeowner loans for the self-employed to contact you.