Our team of experienced brokers deal with self-employed applicants every day. We know that navigating the world of specialist mortgages can be a complicated matter, especially where your existing banking provider isn't able to support your application.

Self-employed products aren't typically an individual product, but are a mortgage that is adapted to meet the requirements of an applicant who runs their own business - usually, this includes:

• Sole traders
• Partnerships
• Limited company directors

If you fall into one of these business categories and would like specialist advice in securing the most competitive mortgage rates on the market, contact Revolution Brokers at 0330 304 3040 or drop us a message at info@revolutionbrokers.co.uk.

As mentioned above, when we talk about a self-employed mortgage, we mean a home loan like any other, but one that is structured around a self-employed applicant.

Given the variability of a self-employed persons' income, each mortgage is bespoke, meaning that a broker has more flexibility when it comes to negotiating a deal on your behalf.

The most significant difference between a self-employed mortgage and a standard home loan is in the way that affordability is calculated. Unlike an employed applicant, your income is likely to change regularly.

However, by using a specialist broker, there is no reason you cannot borrow on the same terms as any employed person, provided you have evidenced your self-employment history for the requisite period.

Most mainstream lenders require three years of accounts. Still, the Revolution team works with a network of niche mortgage providers who can accept applications from self-employed people who have been trading for a shorter period.

Typically, the maximum a mortgage provider can lend is calculated as up to 4.5 times your average annual salary.

Applying for a self-employed mortgage is the same as for any other type of mortgage, with the only significant difference being how you demonstrate your income.

Ideally, lenders like to see two to three years worth of accounts - although you can find lenders with more flexibility around your trading history by working with a broker.

The deposit required against your property is also unchanged, with the average being a 10% minimum requirement. Some lenders will offer a higher Loan to Value (LTV) ratio and be able to provide lending with a 5% deposit.

If you have been self-employed for less than a year, or have seen your business income change dramatically in the last few years, you will usually be asked to put down a larger deposit.

This requirement also applies to other scenarios which a lender will consider higher risk, such as if you have an adverse credit history.

To secure the best rates and most competitive mortgage, it is vital to work with a specialist broker such as the Revolution team. With years of experience in negotiating self-employed mortgages, we can pinpoint the best lenders to apply to, and secure favourable rates.