Self-Employed Bad Credit Mortgages in Nottingham
Specialist help for self-employed Nottingham buyers and homeowners whose credit history has a few bumps in it. Whole-of-market advice from a regulated broker who understands variable income.
- Lenders who accept one year of accounts, retained profit or day rate
- Free, no-obligation initial chat about your situation
- An enquiry here leaves no mark on your credit file
Being self-employed in Nottingham should never count against you when you apply for a mortgage, yet a bruised credit file can make it feel that way. The high street tends to treat variable income and adverse credit as two separate problems, and a borrower carrying both can find the usual doors closing. The specialist market sees it very differently.
We help Nottingham sole traders, company directors and contractors who have missed payments, a default or a CCJ behind them. The route exists, it just needs a lender who reads accounts properly and a broker who knows which ones do.
How lenders assess a self-employed application with adverse credit
Lenders look at two things at once: how you earn and how your credit has behaved. Getting both presented well is what moves a case forward.
Income basis
Sole traders are usually judged on net profit, directors on salary plus dividends or sometimes retained profit, contractors on day rate. The right basis can change what you can borrow.
Years of accounts
Many lenders want two or three years, but some accept one full year with a strong outlook. The fewer years you have, the more the rest of the case has to reassure.
Age of the credit issue
A default from four years ago weighs far less than one from last month. Lenders care more about recency and pattern than about the existence of a mark.
The full explanation
A short note explaining what happened and what has changed since often makes the difference between a decline and an approval.
We help Nottingham clients in situations like these
From first call to mortgage offer
Free initial chat
We talk through your trading setup and your credit history. No obligation, and it leaves no mark on your file.
Income review
We work out which measure of your income gives you the strongest application.
Lender match
We target the specialist lenders whose criteria fit self-employed adverse cases.
Offer and beyond
We package the case, submit it and support you through to completion.
A regulated broker who does this every day
Adverse credit lending is not a sideline for us, it is a core part of what we do. We have helped thousands of clients secure mortgages across the full range of credit situations, from a single missed payment to bankruptcy discharge.
You will work with qualified, named advisors who explain things honestly, including when the timing is not yet right. We would rather give you a straight answer than send you towards a rejection.
Adverse credit situations we cover
Bad credit mortgages
Our core service for any kind of adverse credit history. Start here if you are not sure which applies to you.
Mortgage with a CCJ
How a County Court Judgment affects your application, and which lenders will still consider you.
Mortgage with an IVA
Options during and after an Individual Voluntary Arrangement.
Mortgage with a default
Why the type, age and status of a default matters more than its existence.
Mortgage after bankruptcy
Routes back to home ownership once you have been discharged.
Self-employed with bad credit
Combining variable income with an imperfect credit file.
Self-employed mortgages with adverse credit in Nottingham: your questions
Where is your office, and do I need to visit?
Our office is in Nottingham, at Park Lane Business Centre, NG6 0DW. You do not need to visit us. We help Nottingham clients by phone and video, which is how most adverse credit advice is handled, so you get the same level of service wherever you are.
Will checking my options affect my credit score?
No. An initial conversation and a look at your situation is a soft enquiry and leaves no mark on your credit file. A hard search only happens later, with your permission, when you formally apply to a specific lender.
Will I pay a higher interest rate?
Usually a little higher than a borrower with a clean file, because specialist lenders price for the added risk. The gap shrinks as your issues age and your credit recovers, and remortgaging onto a better rate later is often possible.
How many years of accounts do I need if I also have bad credit?
Most lenders prefer two or three years, but some specialists will consider one full year where the business looks healthy and the credit issues are explained and ageing. With only one year, the rest of the case, deposit, income evidence and the recency of any credit marks, carries more weight. We will tell you honestly whether your file is ready or whether a short wait improves it.
Which income figure will a lender use for my application?
It depends on how you trade. Sole traders are usually assessed on net profit, company directors on salary plus dividends, and some lenders will also add retained profit left in the company. Contractors are often judged on day rate annualised. Choosing the right basis can materially change what you can borrow, and it is one of the first things we work out with you.
Talk to us
Ready to see what is possible?
A short, free conversation is the quickest way to find out where you stand. No pressure, no jargon, and no mark on your credit file.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
My Mortgage Specialist Ltd is registered with the Data Protection Act 1998 registration No. ZB679050 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1002905, an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 786245 and registered with the Data Protection Act 1998 registration No. ZA178200. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
My Mortgage Specialist Ltd. Registered Office: 11a Park Lane Business Centre, Park Lane, Nottingham, NG6 0DW. Registered in England Number: 14430556.
Some types of buy to let mortgages are not regulated by the Financial Conduct Authority. As a mortgage is secured against your property, it could be repossessed if you do not keep up the mortgage repayments.