Loans for the Self Employed

Whether you are a self employed plumber, builder or business consultant, there are likely to be times that you will need to raise additional funds. Whether they are needed for working capital, school fees, a new car, home improvements or a well earned holiday it can be very difficult for self employed people to source loans due to the difficulties of proving income.

Proving your income and your ability to repay a loan secured on your home can sometimes be virtually impossible for the self employed.
The Diverse Finance Company partner with lenders that take a more realistic, self certified, approach to lending (i.e. no accounts or bank statements required).

With so many different options for raising finance available, it is often not easy choosing which is best for your circumstances.  The Diverse Finance Company can help you decide and sometimes provide additional options that you haven’t already considered.

We can help the self employed in a variety of situations:
• Unable to prove your income due to unavailable accounts
• New start businesses• Equity trapped in your home but ‘tied in’ with your current mortgage provider.
• Need to raise money quickly to pay off debts or take advantage of short term opportunities.
• Existing debts that you would like to consolidate.

If any of the above apply to you then your best solution may be to take out a secured (second charge) loan. 
With a secured loan you keep your existing mortgage in place and (subject to status) release up to 100% of the market value of your house minus the existing mortgage debt.
It is a quick and painless process that can complete within 3 weeks (subject to all paperwork falling within normal lending criteria).

In all cases we would look to raise the finance you need from the most appropriate source, offering not just the best rates but the best terms as well.  If the most appropriate solution for your situation is to release equity from your property with a secured loan, we will assist you in the quickest and most cost effective manner giving you access to your funds as soon as possible.

The benefits of this type of finance are:

• Loans can be arranged very quickly – 14 to 28 days
• No proof of income – no problem!
• Self employed – we can help
• The finance can be used for any (legal) purpose
• You can borrow up to 100% of the value of your property

There are a couple of downsides to consider:

• Most lenders will apply an early repayment charge within the first three years
• The rates aren’t as competitive as residential mortgages

If you are interested in discussing how a secured loan could assist you or your business please call free on: 0800 012 2092

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your loan.

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