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Self-Employed and Non-Conforming

It is not impossible for the self-employed to get a home loan – but it isn't easy either.

Taxable income declared by self-employed people is often reduced, as accountants look for as many tax deductions as they can achieve. Another problem is the sheer volume of paperwork the self-employed person must present to meet evidence requirements.

The good news is that a number of innovative lenders have emerged in recent years and these take a simpler approach than has been taken by lenders in the past.

We recommend that professional help be sought from the outset. The complexities of getting a home loan for the self employed usually mean that you need an expert to put it together.

Your IPS Home Loans consultant will know which lenders apply which rules; which lenders will use the latest year’s figures if they’re better than the year before, instead of averaging; and which lender will use one year’s trading instead of two. Also, they’ll know which lenders will add depreciation and other non cash-flow items back into income.