I was blacklisted for a mortgage because I am self-employed – here’s how I got through it

To exclude, to expel:

Mortgage lenders often require several years of income to get a homeless person if you are self-employed, meaning many Britons are not guaranteed title to their own property.

Eve Scragg
Working for yourself has great advantages, but not following the high street banks

ONE self-employed The woman says she’s been turned down by all the banks on the street for a mortgage – but has finally found a way to get up the ladder.

Her case highlights how difficult it is for the 4.4 trillion self-employed Britons to get homeless people because many lenders need to see income worthy two to three years before lending a mortgage.

These strict lending rules can discourage many homebuyers.

Eve Scragg, 36, founded a marketing agency based in Bristol Fan The Flames 4 years ago and registered as a limited company in April 2021.

“I worked in marketing and design for a number of years, and it was time to do the big thing and start my own business,” she said.

After starting their own company, Eve and her partner decided they wanted the stability of owning their own home.

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Eve Scragg in front of her Bristol house


Eve Scragg)

“I increased my income and I was in a place where I could get a mortgage and stop paying other people’s mortgages by renting,” she said.

She went to a mortgage broker, who looked at her account and initially thought Eve could easily land a homeless person – especially since her firm was making £80,000 a day. five.

But as soon as Eve and her partner started applying for a mortgage, problems began.

“The problem was the credit score and I was self-employed,” she said.

“A lot of my friends are on the same boat and think they can’t even buy property. Especially in Bristol where prices are insanely high. Self-employment is something where the lenders are heavy. interest.”

Eve’s credit score isn’t too bad, but as a self-employed individual, it’s still not good enough for street lenders.

“All the big banks say I don’t have good credit,” she said. “It turned out that not having borrowed money before, which I thought was good, turned out to be bad in that respect.”

She managed to get offers from two mortgage lenders, only to have them both cash out.

“I thought we might be mortgage-free, there was a lot of tears and stress and called my mother, who used to impart a lot of knowledge,” Eve added. “It’s been an incredibly difficult and stressful process.”

Eve then turned Bluestone Mortgage specializes in clients rejected by mainstream lenders.

“Bluestone is one of the only people left who will consider us,” Eve said.

She earned a homelessness with the company and is now the proud owner of a three-bedroom house at the end of the terrace in Bristol.

“They were really quick and helpful, and we now own a house with a garden and on a lovely quiet street,” Eve continued.

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