How to apply for a self-employed mortgage ?

? How to apply for a self-employed mortgage


One of the main reasons why it is so difficult to get a mortgage when working for your own account is the difficulty of proving that you have sufficient solvency despite the lack of fixed payrolls. Financial entities tend to be hesitant in this regard and convince them that there will be no problem in paying fees that are presented as an almost impossible task. 

 

self-employed mortgage
 How to apply for a self-employed mortgage ?

In addition, another obstacle in the loans of entrepreneurs is in your income statement. In order to compensate for expenses, many of these workers reflect a lower level of income than they actually receive. Although it is possible to verify the real benefits through bank movements, it is necessary that personal income tax data be as close as possible to reality. 

 

Help get a mortgage for a self-employed person 

The main objective of an independent employee who intends to obtain a mortgage is to gain the trust of the bank. This includes submitting more documents that reduce the risk of economic instability that usually characterizes the activity of the self-employed. 

 

Since these types of employees cannot prove a regular income or an indefinite employment contract, the solution is to show the guarantees and guarantees available.

 

Select owned goods.

Show people who can work as sponsors. 

Provide income and VAT declaration for previous quarters, recent receipts of self-employed fees, as well as movements in the bank account several months ago. 

 

Besides, depending on the bank's policy, business may also be ordered, account balance, contracts with customers etc. 

 

Since financial institutions conduct a more comprehensive analysis of repayment capacity, so that a self-employed person can obtain a mortgage more easily, it is also recommended to provide as full a file as possible with all business information. Similarly, it is usually necessary to report all loans active, both personal and commercial.  

 

It must be borne in mind that within the self-employed group, self-employed people are usually seen with better eyes than other banks. Therefore, it is easier to get a self-employed mortgage in this way and negotiate the terms of the mortgage

 

It is not only important to know in advance all the requirements that the bank may require to grant financing, but it is interesting to know that some policies help to get a mortgage during your independence. This is the case of accident insurance that allows you to continue paying monthly installments thanks to accumulated capital. 

 

In this way, the obligation to the Bank is guaranteed in the event of the death or disability of the worker as a result of an accident that prevents him from practicing his profession normally.