Self-Employed Bad Credit Mortgages in Derby
Specialist help for self-employed Derby 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
A self-employed mortgage with adverse credit is one of the more specialist cases in the market, and it is exactly the kind we handle for Derby clients regularly. The challenge is rarely the income itself. It is that mainstream lenders apply rigid rules to both accounts and credit files, and a self-employed applicant with past issues falls outside those rules on two counts at once.
We place these cases with lenders who underwrite by hand and weigh the full picture, not a tick-box.
Getting your paperwork ready
Self-employed adverse credit cases live or die on documentation, so preparing it well speeds everything up.
Accounts and tax calculations
Two to three years of finalised accounts and SA302 tax calculations, or the latest year if that is all you have.
Business bank statements
Usually three to six months, to show trading is healthy and ongoing.
Personal bank statements
To confirm how income lands and how you manage day-to-day money.
A credit report
Your own copy, so we can see exactly what lenders will see and plan around it.
We help Derby clients in situations like these
A straightforward path
Initial enquiry
Tell us about your business and your file.
Honest advice
We say what is realistic and what is not.
Lender approach
We go to the right specialists first time.
Ongoing support
We stay with you to the finish.
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 Derby: 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 Derby 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.
How big a deposit will I need?
For adverse credit cases, expect to need more than the standard minimum, often around 10 to 25 per cent depending on the severity and age of the issues. A bigger deposit widens your choice of lenders and improves the rate you are offered.
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.
Will being self-employed and having adverse credit mean a much higher rate?
Specialist lenders price for the added risk, so the rate is usually a little higher than a clean, employed applicant would get. The gap narrows as your credit issues age and your accounts strengthen, and remortgaging onto a better rate later is often possible. A larger deposit also helps bring the rate down.
Do you charge for advice?
The initial advice and assessment of your situation is free with no obligation. If you decide to proceed, we will explain any fees clearly and in writing before you commit to anything.
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.