Self Employed Loans

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Arranging Funds When Self Employed

In today’s day and age, more and more people are taking on self-employment and becoming their own bosses, which we think is a great thing. However, we receive a lot of calls from such people who seem to have the idea that they can’t get credit because they’re self-employed – which is a fair assumption in a time when borrowing requirements are getting tighter and tighter. But, this is not the case.

Our Specialist Lenders Can Help

Owning your own home could be your ticket to the long-term financing you need. Secured loans for self-employed individuals are widely available at very good rates and with manageable terms. Just as salaried workers can, the self-employed are able to leverage the equity in their homes for long-term financing.

Similarly, some self-employed individuals wonder whether a secured loan will cost them more due to their employment status. The simple answer to that question is NO. Because the secured loan is based on the equity of the borrower’s home, lenders are not extremely concerned about the source of a customer’s income, and just need proof that that income IS there. As long as that income can be verified, there are usually few problems.

Another concern among the self-employed is bad credit. Let’s face it; the financial crisis of a few years ago put many self-employed individuals in jeopardy. Those who survived the crisis may be enjoying a very healthy business today, yet they still have some bad credit left over from the past.

What Happens Once I’ve Applied?
After submitting your loan application our experienced team of underwriters will search the market right away to find the best loan offers for your circumstances. We can usually get an in-principle decision within the hour.

If you need any help or advice please call us on 0800 840 3636 or drop us an email.

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First Trust Finance Has The Answer

Bad credit will not usually prevent you from getting a secured loan against your home as long as you have enough equity. Bad credit CAN be a disadvantage in that you may be limited to a higher interest rate, but as your credit file improves, refinancing at an improved rate becomes an option too.

If you are someone with bad credit and are concerned about what rate you are eligible for, let us ease your mind before you proceed. At First Trust Finance we have links within the whole market and work closely with a panel of lenders, including some that specialise in bad credit and those that allow some level of bad credit without penalty. The best way to get an idea as to what you can get is to give us a call, run through a short application, and let us find the best product available to you.

Whatever your personal circumstances, we at First Trust Finance are here to help. We treat your call with the utmost confidentiality and put our clients’ interests first. Our team will help you every step of the way, available throughout the week to take all the hassle out of finding the finance you need.