Self Employed Loans - Secured & Unsecured Loans
We specialise in self employed loans whether you're a sole trader, sub-contractor, limited company or a partnership. We can help organise loans for people who have a clean credit record or maybe you have had some bad credit in the form of mortgage arrears, defaults and/or county court judgements.
Being Self Employed has many benefits such as being your own boss and working the hours you want to, which is why more people are becoming self-employed since the economic downturn. We understand that being self-employed can also be more difficult to get a loan however we work with a range of niche lenders who understand how self-employed people structure their earnings and are therefore comfortable in offering you a loan.
Specialist self employed loan lenders that we work with are happy for self employed applicants to verify their income by providing their Self Assessment tax return, Company Accounts, accountants certificates and in some cases 6 month's worth of bank statements.
Loans for self employed we could help arrange for you:
- Unsecured Loan - £1000 to £25,000 over 1 to 5 years.
- Secured Loan - £5,000 to £500,000 over 3yrs to 25yrs (for homeowners only).
- Business Loan - £3K+ over 1yr to 25 years.
- Guarantor Loan - £1,000 to £10,000 - 1yr to 5 years.
- Asset Financing - £5K+ over a repayment term of the economic value of the asset.
Whether you are a self employed tradesman such as a plumber or carpenter to a self employed IT contractor we can help find you the most suitable and affordable self employed loan. Please complete the enquiry form or give us a call to discuss your requirements in detail.
Frequently Asked Questions
What is a self-employed loan?
A self-employed loan is just like any other loan, however when you are self-employed it is often a frustrating process trying to raise the money you need. Many self-employed people have found that lenders consider them to be a risk because their incomes could be classed as unstable, which can create problems if you need a loan. However, we have lenders on our panel who will lend to self-employed applicants in most situations - They will even accept bad credit.
I am self-employed and have bad credit - Can I still get a loan?
We have lenders on our panel that deal primarily with bad credit - unsecured and secured who are able to help you raise the funds you need.
What's the maximum amount I can borrow for a self-employed personal loan?
You can borrow all the way up to £25'000 for a personal loan through us!
How long can I pay the loan back over for an unsecured self-employed loan?
For an unsecured loan you can have the term over a maximum of 7 years - Although we can also offer a secured loan for our self-employed homeowners that can have a term of up to 30 years.
How easy is it for me to get a self-employed secured loan?
Many self-employed people struggle to get loans due to proof of their income - Most lenders accept accounts or a self-assessment but we can also help if your only way to prove your income is bank statements! Secured loans are often easier to get accepted for as lenders see you as less of a risk as you will be using your property as collateral to guarantee that they will get paid.
Self Employed Loans
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How we work
Just some of the UK Lenders we compare
UNSECURED LOAN REPRESENTATIVE EXAMPLE - 49.9% APRC (variable) Secured loans from 3.83% APRC.
SECURED LOAN REPRESENTATIVE EXAMPLE - Assumed borrowing of £30,000 over 240 months, with a 36 month fixed rate followed by a variable rate plus a brokers fee of £1,495 and a lender fee of £495 would result in a monthly repayment of £256.04, the APRC 8.2% for 36 months then a monthly repayment of £247.45 on variable rate, the total amount payable would be £59,817.24. The actual rate available will depend on your circumstances, please ask for a personalised illustration.
By taking out a secured loan you are borrowing money that is secured against your home. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay. Rates as of 16/01/2017.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP, GO TO MONEYADVICESERVICE.CO.UK.