With over four and a half million UK residents currently registered as self-employed, it may come as something of a surprise that a large percentage of lenders consider those who are running their own businesses to be a genuine risk when applying for a loan. We pride ourselves on providing an intelligent lending service that is focused on catering for the needs of all UK homeowners and mortgage holders who require competitive finance, regardless of whether they are sole traders, self-employed or in regular employment.
Self-employment has numerous advantages on offer for the budding entrepreneur seeking to strike out on their own and make their own way in the world. When you work for yourself, you can choose your own hours whilst maintaining complete control over every aspect of the day to day running of your business. However, there is an unfortunate downside to being self-employed, particularly if you are looking to borrow a significant amount of money from a lender. This is because most lending facilities are inclined to view sole traders and self-employed workers as having an unreliable income, even if their business is an obvious success.
Apply for a Self-employed Loan
Provided you are a UK homeowner and who has been self-employed for at least one full year and you are able to show us at least 6 months worth of bank statements, we should have no difficulty in finding you a suitable borrowing product with a competitive rate of interest. Our secured homeowner loans for the self-employed are available from £20,000 to £200,000 and above, and once you have secured your loan, you can use the funds for any reason you see fit. Whether you are looking for a financial boost that can be used to expand your business, perhaps to fund the purchase of new equipment such as a company van, or you are looking to borrow in order to finance home improvements or consolidate your debts, our competitive loans for UK business owners are highly flexible and can be secured against any residential property with sufficient equity to cover the repayments.
If you would like to find out more about the options available for self-employed borrowers, then you can always talk to one of our professional loan experts who will be glad to discuss your individual borrowing requirements on a one-to-one basis. You can also use our secured loan calculator page in order to get a rough idea of the overall costs of borrowing before you decide to apply.