Our Customers rate us 4.6 out of 5
Limited Liability Partnerships (LLP) Mortgage Advice
Are you in a LLP and looking to buy a property? Our trusted advisors specialise in helping self employed customers achieve mortgage application success, even when they’ve faced rejection from high street mortgage lenders in the past.
Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.
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When The Bank Says No is working closely with leading providers...
Useful links to begin your Mortgage Journey
Retained Profit
Retained profit mortgages can increase your chances of approval and help you borrow more. Get started today by talking to one of our advisors!
Ltd Company Directors
Ltd company directors don’t need to fear the mortgage market. Our team of expert mortgage advisors are here to take the headache out of the process.
1 Year Accounts
Owners of young businesses don’t have to worry. Our mortgage advisors are here to help you achieve success even with only 1 year of trading.
Decreasing Profits
Don’t let reducing profits reduce your optimism for the future. Our team of expert advisors are here to show you the way to the right mortgage deal.
How long do I need to be in a limited liability partnership business to get a mortgage?
Most high street lenders will want to see 2-3 years of accounts when processing your mortgage application. However, there are lenders out there who will be prepared to consider self employed mortgage applicants with less than this. When the Bank Says No has access to a range of specialist mortgage providers, allowing us to pinpoint the lender who is best suited to your particular situation. Talk to us today and our experienced mortgage advisors will get to work locating the right option for your needs. From bad credit mortgages to commercial mortgages for LLP self employed individuals, we can help you no matter your circumstances or credit story.
Simplifying your LLP mortgage.
You might be worried the LLP mortgage process is difficult. But with the right team at your side, it’s simpler than you think. Our team of friendly advisors are here to guide you through the whole journey from start to finish; from initial enquiry all the way through to successful offer. We’re passionate about helping our clients access the loan they need to purchase their property, even if they are facing numerous obstacles. To us, nothing is more important than helping you achieve your future plans.
LLP mortgages can be difficult to come across when looking for a mortgage through traditional high street lenders. LLP mortgages suffer from the same issues as sole trader mortgages in terms of the lender’s criteria used by mainstream lenders which are often prohibitive to self employed individuals with accounts less than 3 years. But even when traditional lenders say no, there’s still hope for individuals in LLPs – residential mortgages are still possible – you just need a team like ours to help you find them.
Let's get the ball rolling.
We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!
Check your credit file.
In order for us to assess your credit history and suitability for different mortgage products, you will need to check your file.
If you’re in a limited liability partnership, you will normally be treated as self employed by mortgage lenders. This means the way lenders assess your application will be different to standard applicants. Despite the range of self employed mortgage products on the market, the application process can seem complicated. Luckily, our team of expert mortgage advisors specialise in helping self employed and LLP customers achieve their future plans. We’ll scour the market for the best deals available according to your specific circumstances. With us, LLP mortgages are easier than ever!
What Documents Are Required For Mortgage Applications If I'm In A LLP?
You will generally be required to provide tax calculations, SA302 and company accounts to evidence the profits of the business. Certain lenders might also ask for additional documentation which should be verified by the company accountant. Our specialist team has years of experience helping business owners apply for mortgages, so we’ll be more than happy to advise you on the specific documents you will require once we know more about your circumstances and the mortgage lenders you’re considering.
Turning Your Nightmares Into Dreams
When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.
How Much Can I Borrow On My Mortgage If I'm In A LLP?
Most lenders determine how much they are prepared to lend to you based on income multiples. For the majority of UK lenders, the income multiple used is 4.5x or sometimes 5x. Some lenders will go higher than this and offer 6x income multiples, but this is likely to result in higher mortgage rates. The final figure the lender lands on will also be subject to an affordability assessment taking into account your monthly outgoings. Our specialist mortgage advisors can help you get started with your affordability assessment so you can work out what the options are.
The idea behind an affordability check such as this is to ensure that your mortgage debt isn’t too high for you to realistically afford. Some high street lenders may be less forthcoming to self employed individuals and those in LLPs. We can help you find mortgage lenders who can offer you an appropriate mortgage for the property you want. Get in touch today!
Can A Limited Liability Partnership With Company Debt Apply For A Mortgage?
Frequently Asked Questions
I'm in a LLP - Can I get a Buy to Let Mortgage?
Yes, you can! Some specialist Buy to Let lenders have no minimum income requirements, and many look at the potential income generated instead. However, lenders will still want to be confident that mortgage repayments can be made even during rental voids when the property isn’t occupied. This can normally be evidenced using any surplus rent you build up when the property is let, any surplus income, or any savings you have.
What else can affect my eligibility for a mortgage as a LLP?
A range of factors will be assessed when applying for a mortgage if you are in a LLP. Some of the things that a lender might look at include age, deposit size, Loan to Value, property type, outgoings/current credit commitments and income. If you have any concerns about how your personal situation may impact your chances of mortgage success, our team will be happy to discuss the finer details with you. We’ll scour the market for the best mortgage deal available to your LLP. Talk to us and we can get started!
Dedicated mortgage advisors for LLPs.
When the Bank Says No is a team of specialist mortgage advisors supporting the mortgage dreams of clients all over the UK. We have years of experience helping self employed and LLP applicants navigate the more complex application process. With access to the whole of the market and a passion for independent advice, our advisors can help you improve your chances of success and identify the right lender before you face any rejections.
What Our customers say about us
Our Customers rank us 4.6 out of 5
We feel so fortunate to have found WTBSN
We found WTBSN after landing in a really tricky situation. We were out of term on our current mortgage and our existing broker had exhausted all options to re-mortgage due to the complex nature of our holiday let property (Grade II listed, timber frame construction and above commercial). Working under considerable time pressure due to the financial penalties being imposed by the existing lender, Brian was relentless in his search for a solution that would allow us to refinance a property that was on face value mortgageable. Thankfully, he didn’t give up and nine months later, we completed on the re-finance. We feel so fortunate to have found WTBSN and would like to thank Brian and the team sincerely for going the extra mile. We couldn’t have done it without you!
Rachel Reeves
Simply the best
I will never use another mortgage broker in all my time In property, these guys are the best at communication, customer service and keeping you informed. They are a level above every other broker I’ve come across and they actually get things done.
Emma, Samantha & Ashley have been fantastic in assisting me with 2 mortgages now and they’re superb at what they do. I wouldn’t hesitate to reccommend them to anybody out there who needs a mortgage sorting.
John Burton
I have been dealing with ben
I have been dealing with Ben @ When The Bank Says No. He has been great!! Professional, kept us up to date the whole way and made the entire process so simple. I would most definitely use him again and have already passed his details on to a family member. Thank you for all your help.
Elise
Thank you for your amazing support
Thank you for your amazing support and service during a really difficult time in my life. 5* is just not enough to demonstrate the level of support received. These guys go above and beyond. A personal service, with kindness and compassion. I highly recommend. If you’re struggling with your mortgage, then have a chat to this team. I cannot thank them enough for everything they have done.
Nabila Fowles-Gutierrez
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