Product of the Week: 3 years fixed rate product at 3.29% for self-employed buyers

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The number of self-employed people in the labour market is increasing year on year, with 15.0% of all people in work (4.77million) self-employed, according to The Office of National Statistics. However, considering the sector has been credited with catalysing Britain’s economic recovery, self-employed people still face challenges when it comes to the mortgage market.

Property loans for the self-employed took something of a battering in the aftermath of the financial crisis as lenders began to place greater emphasis on strict affordability checks, and this has perpetuated the idea that self-employed mortgages are harder to get hold of than the proverbial needle in a haystack. A client might not have three years’ worth of profitable accounts, or their liquid assets are tied up within the company so, on paper, they may not pass the necessary affordability checks.

However, thanks to our exceptionally large network of lenders, Enness works with a lender who assists clients with a growing business, who keep the profit within the company. Our Product of the Week uses the figures from the most recent year, on an interest only basis if required, at a fixed rate of 3.29% over three years, on both purchases and remortgages.

  • Rate of 3.29%
  • Three year fixed rate
  • Interest only if required
  • Available for loans of £500,000 – £2million

We are experienced in helping self-employed clients maximise their borrowing, working with lenders to take their entire wealth into consideration. If you are interested in this product, please do not hesitate to get in touch as we would be more than happy to introduce you to the relevant lender and provide expert advice for your circumstances.

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