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Mortgages for Self Employed

Mortgages for borrowers with less predictable earnings.

Whilst your self employed clients may struggle with lenders who use automated evaluation processes, we do things a little differently! Because we use expert underwriters who look at each case manually, we're used to taking personal circumstances into account and building up a individual view of each applicant.

All of our residential mortgage products are available for those who are self employed, and from time to time we also offer special products designed for those who are self employed or a contractor.

SPECIALIST Self Employed 3.09% 2 Year Fixed Rate 90% LTV

About
Fees
Apply
Representative Example
  • FIXED RATE currently 3.09% until 31 December 2020 then changing to Ipswich Standard Variable Rate (currently 5.74%)
  • 5.4% APRC
  • The applicant's accountant must be suitably qualified in accordance with the Lending Policy
  • Income is verified to the 12 months accounts in the first instance or via HMRC self assessments
  • The applicant must be in the same line of work as that carried out for the previous three years
  • Minimum one years accounts
  • Available for direct applicants in England and Wales
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.

15113, 72159, 72160

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Purchase: based on property valuation. Remortgage: FREE (up to a maximum property value of £1m) - £35 £500k
  • Fee free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 3% of the overpayment
  • Early repayment charge period ends 31 December 2020
  • For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £189,000.00 payable over 25 years initially on a fixed rate until 31/12/2020 at 3.09%, and then on our Standard Variable Rate currently at 5.74% for the remainder of the mortgage term would require 27 monthly payments of £909.13 followed by 273 monthly payments of £1,169.93. The total amount payable would be £344,411.40 made up of the loan amount plus interest (£154,102.40), an application fee of £199, a completion fee of £800, a valuation fee of £180, a mortgage funds release fee of £35 and a mortgage exit fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term. The overall cost for comparison is 5.4% APRC representative.

[This representative example is based on assumptions that the loan would start from 25 September 2018]

SPECIALIST Self Employed 2.84% 2 Year Discount Rate 90% LTV

About
Fees
Apply
Representative Example
  • VARIABLE RATE currently 5.74% with a discount of 2.90% until 2 years from completion date then changing to Ipswich Standard Variable Rate
  • 5.5% APRC
  • The applicant's accountant must be suitably qualified in accordance with Lending Policy
  • Income is verified to the 12 months accounts in the first instance or via HMRC self assessments
  • The applicant must be in the same line of work as that carried out for the previous three years
  • Minimum 1 years accounts
  • Available for direct applicants in England and Wales
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.

 

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Purchase: based on property valuation. Remortgage: FREE (up to a maximum property value of £1m) - £35 £500k
  • Fee free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 1%
  • Early repayment charge period ends 2 years from completion date
  • For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £142,500.00 payable over 35 years initially on our Standard Variable Rate currently at 5.74% with a discount of 2.90%, giving a current rate payable of 2.84% until 2 years from completion and then on our Standard Variable Rate for the remainder of the mortgage term would require 24 monthly payments of £538.91 followed by 396 monthly payments of £779.94.
The total amount payable would be £322,244.08 made up of the loan amount plus interest (£178,455.08), an application fee of £199, a completion fee of £800, a valuation fee of £160, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 5.5% APRC representative.

[This representative example is based on assumptions that the loan would start from 3 September 2018]

Conditions for Self Employed Specialist products
• The applicant's accountant is suitably qualified in accordance with Lending Policy
• The applicant must be in the same line of work as that carried out for the previous three years
• Income is verified to the 12 months accounts in the first instance or via HMRC self assessments (SA302)

PROFESSIONAL Self Employed 3.09% 2 Year Fixed Rate 90% LTV

About
Fees
Apply
Representative Example
  • FIXED RATE currently 3.09% until 31 December 2020 then changing to Ipswich Standard Variable Rate (currently 5.74%)
  • 5.4% APRC
  • Aimed at self employed applicants who are in a professional occupation (i.e. Solicitors, Architects, Accountants, Dentists, Doctors, Surveyors, Pharmacists, Vets and Optometrists) and are working as part of an established partnership (of at least three years)
  • For 1 years accounts + we will consider up to 90% LTV, for less than 1 years accounts and established firm we will consider up to 75% LTV
  • Available for direct applicants in England and Wales
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.

15114, 72161, 72162

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Purchase: based on property valuation. Remortgage: FREE (up to a maximum property value of £1m) - £35 £500k
  • Fee free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 3% of the overpayment
  • Early repayment charge period ends 31 December 2020
  • For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £189,000.00 payable over 25 years initially on a fixed rate until 31/12/2020 at 3.09%, and then on our Standard Variable Rate currently at 5.74% for the remainder of the mortgage term would require 27 monthly payments of £909.13 followed by 273 monthly payments of £1,169.93. The total amount payable would be £344,411.40 made up of the loan amount plus interest (£154,102.40), an application fee of £199, a completion fee of £800, a valuation fee of £180, a mortgage funds release fee of £35 and a mortgage exit fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term. The overall cost for comparison is 5.4% APRC representative.

[This representative example is based on assumptions that the loan would start from 25 September 2018]

SPECIALIST Self Employed 2.84% 2 Year Discount Rate 90% LTV

About
Fees
Apply
Representative Example
  • VARIABLE RATE currently 5.74% with a discount of 2.90% until 2 years from completion date then changing to Ipswich Standard Variable Rate
  • 5.5% APRC
  • The applicant's accountant must be suitably qualified in accordance with Lending Policy
  • Income is verified to the 12 months accounts in the first instance or via HMRC self assessments
  • The applicant must be in the same line of work as that carried out for the previous three years
  • Minimum 1 years accounts
  • Available for direct applicants in England and Wales
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.

 

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Purchase: based on property valuation. Remortgage: FREE (up to a maximum property value of £1m) - £35 £500k
  • Fee free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 1%
  • Early repayment charge period ends 2 years from completion date
  • For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £142,500.00 payable over 35 years initially on our Standard Variable Rate currently at 5.74% with a discount of 2.90%, giving a current rate payable of 2.84% until 2 years from completion and then on our Standard Variable Rate for the remainder of the mortgage term would require 24 monthly payments of £538.91 followed by 396 monthly payments of £779.94.
The total amount payable would be £322,244.08 made up of the loan amount plus interest (£178,455.08), an application fee of £199, a completion fee of £800, a valuation fee of £160, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 5.5% APRC representative.

[This representative example is based on assumptions that the loan would start from 3 September 2018]

Conditions for Self Employed Professional products
• This is aimed at those self employed applicants who are in a professional occupation (i.e. Solicitors, Architects, Accountants, Dentists, Doctors, Surveyors, Pharmacists, Vets, and Optometrists) and are working as part of an established partnership (of at least three years)
• 1 years accounts+ - consider up to 90% LTV
• Less than 1 years accounts and established firm - consider up to 75% LTV

Contractor 3.09% 2 Year Fixed Rate 90% LTV

About
Fees
Apply
Representative Example
  • FIXED RATE currently 3.09% until 31 December 2020 then changing to Ipswich Standard Variable Rate (currently 5.74%)
  • 5.4% APRC
  • Available for direct applicants in England and Wales
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.
  • Excludes CIS scheme

15115, 72163, 72164

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Purchase: based on property valuation. Remortgage: FREE (up to a maximum property value of £1m) - £35 £500k
  • Fee free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 3% of the overpayment
  • Early repayment charge period ends 31 December 2020
  • For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £189,000.00 payable over 25 years initially on a fixed rate until 31/12/2020 at 3.09%, and then on our Standard Variable Rate currently at 5.74% for the remainder of the mortgage term would require 27 monthly payments of £909.13 followed by 273 monthly payments of £1,169.93. The total amount payable would be £344,411.40 made up of the loan amount plus interest (£154,102.40), an application fee of £199, a completion fee of £800, a valuation fee of £180, a mortgage funds release fee of £35 and a mortgage exit fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term. The overall cost for comparison is 5.4% APRC representative.

[This representative example is based on assumptions that the loan would start from 25 September 2018]

Contractor 2.84% 2 Year Discount Rate 90% LTV

About
Fees
Apply
Representative Example
  • VARIABLE RATE currently 5.74% with a discount of 2.90% until 2 years from completion then changing to Ipswich Standard Variable Rate
  • 5.5% APRC
  • Available for direct applicants in England and Wales
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.
  • Excludes CIS scheme

11081, 67117, 67118

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£800 £199 Purchase: based on property valuation. Remortgage: FREE (up to a maximum property value of £1m) - £35 £500k
  • Fee free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 1% of the overpayment
  • Early repayment charge period ends 2 years from completion date
  • For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £142,500.00 payable over 35 years initially on our Standard Variable Rate currently at 5.74% with a discount of 2.90%, giving a current rate payable of 2.84% until 2 years from completion and then on our Standard Variable Rate for the remainder of the mortgage term would require 24 monthly payments of £538.91 followed by 396 monthly payments of £779.94.
The total amount payable would be £322,244.08 made up of the loan amount plus interest (£178,455.08), an application fee of £199, a completion fee of £800, a valuation fee of £160, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 5.5% APRC representative.

[This representative example is based on assumptions that the loan would start from 3 September 2018]

Condition for Contractor products
• Excludes CIS scheme


Key features of our self employed mortgages

  • All deals feature fee free overpayments up to 50% of original loan amount
  • No maximum age limit
  • Self employed applicants with over 2 years' history can access our normal residential range (no LTV cap)
  • Contractors can access our normal residential range up to 75% LTV
  • We do not reset the clock when a self employed person goes from being a sole trader to a limited company
  • Maximum loan £350,000
  • New build houses accepted
  • We can assess zero hour contract workers with 18 months' employment history
  • Loans available on capital and interest, interest only including sale of property (up to 50% LTV, min £150k equity) and part/part
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