Self-Employed mortgage brokers in Solihull
3 independent, FCA-authorised advisers covering Solihull and the wider West Midlands area who handle self-employed mortgage cases. Contact them directly — we never sell your details.
Acclaimed Mortgage Consultancy Ltd
Birmingham
Ailes Mortgage Solutions Ltd
Solihull
Mortgage Circle
Birmingham
Self-Employed mortgages in Solihull: what to know
Self-employed applicants are not treated worse than employees, but they are assessed differently. Lenders want to see a track record — usually two years of accounts or tax calculations, occasionally one — and they differ substantially in what income they will actually count. Sole traders, company directors and contractors are each assessed on a different basis. For self-employed borrowers in Solihull, choosing the right lender is often the difference between a comfortable approval and a decline.
- Sole traders are generally assessed on net profit; company directors on salary plus dividends, though some lenders will use salary plus retained profit, which can be far more generous.
- Day-rate contractors are often assessed on an annualised day rate rather than accounts, which frequently produces a much higher borrowing figure.
- Most lenders average the last two years, but some use the most recent year alone. If your income is rising, that difference is significant.
- Aggressive expense claims reduce declared profit and therefore borrowing power. It is worth understanding that trade-off with your accountant well before you apply.
What matters locally in Solihull
Knowle, Dorridge and Barston sit at the top of the market with substantial detached houses and village character. Olton, Shirley and Solihull Lodge are more mixed, with interwar semis and a broader price range. Chelmsley Wood and Kingshurst to the north are considerably more affordable and include significant former local-authority stock. The borough has seen sustained new-build activity, and proximity to the airport, the NEC and the future high-speed rail interchange keeps demand from professional buyers steady.
- Bonus, commission and professional income from Birmingham employment, treated inconsistently across lenders.
- Remortgaging with substantial equity, where the choice is between rate, fee structure and flexibility rather than simply the lowest headline rate.
Are large mortgages harder to get in Solihull?
Above certain loan sizes lenders apply stricter rules — lower maximum loan-to-income ratios, tighter loan-to-value caps and, on genuinely large loans, individual underwriting rather than an automated decision. That does not make them hard to get, but the field of lenders narrows and the pricing structure changes, with arrangement fees mattering much more on a big balance than on a small one.
Questions worth asking a self-employed broker
- How many years of accounts do I need in Solihull?
- Two years is the common requirement. A smaller number of lenders will consider one year, usually with a larger deposit or where you were previously employed in the same line of work.
- What income will a lender actually use?
- It depends on your structure. Sole traders are typically assessed on net profit, company directors on salary plus dividends, and some lenders on salary plus retained company profit. Contractors are frequently assessed on an annualised day rate.
- Do I need my accounts signed off by an accountant?
- Most lenders accept SA302 tax calculations with the corresponding tax year overviews from HMRC. Some also want accounts prepared by a qualified accountant, particularly for limited companies.
- Can I get a mortgage in my first year of trading?
- It is difficult but not impossible, especially if you moved from employment into self-employment doing similar work. Expect a narrower lender pool and a larger deposit requirement.