Purpose
What the funding is intended to support, and the outcome being considered.
BUSINESS & SME / FINANCE SOLUTIONS
Self-employed finance
An archived Monteus service page for self-employed borrowers.
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Finance shaped
around the brief.
An archived Monteus service page for self-employed borrowers. The right questions depend on the purpose, structure and timing of each request. Monteus can confirm current services and requirements directly.
Structure
The business, property or asset context relevant to the finance discussion.
Timing
Key dates, milestones and information needed to assess the next step.
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Self Employed
Copy preserved from the Monteus archive, captured 2022-11-04. Confirm wording, terms and claims with Monteus before publication.
Our job at Monteus is to help you sort out the paperwork and find you the right home loan – even if you’re self-employed.
Self-Employed People Are Assessed Differently. When you apply for a home loan as a self-employed person, you will need to show evidence of your business’s financial status. The reality is that banks view self-employed and business owners’ applications differently.
If you have a job with an employer, a lender will only require your personal financial position to make a lending decision. When you work for yourself, your lender will also consider your business’ financial position. If you are self-employed, banks and lenders may consider your income as ‘unpredictable’ and therefore consider you at a much higher risk of missing repayments
The accuracy of your records is also paramount so you and your lender can make the most informed decisions about your loan.
The most important thing is to show that income has been consistent, that your business has grown, and that earnings have increased over the long term.
Preparation For Home Loan Applications. Before applying for a home loan, everyone should prepare the following paperwork;