An executive summary of a page, with the key points that demonstrate our ability to pay and business management skills, in addition to the characteristics of the mortgage we request.
The directors have little time, and this page must be visually appealing and useful for you to feel like reading it. A summary of the history of our business, our curriculum and what makes us special.
Let’s sell our abilities as a freelancer
Without exaggeration but without being too humble. If we are sure that we will generate stable income to pay the mortgage, we have to be able to transmit it in writing.
Tax and accounting documentation, orderly and complete. If we are not experts, help us our tax and accounting advisor. One caveat, let’s not pretend to grant us money if our accounting books say we are in ruin. We have to present benefits and, if there are dips in income or extraordinary expenses, explain them.
The profit and loss account
As the balance sheet and the profit and loss account are more referenced, the more possibilities we have for the director to end up sending the mortgage to risks. There are many operations that never end up being studied, because of poor information.
Information on income and expenses that extend the tax and accounting documentation. Who are our main customers and suppliers? Do we have diversified sales? New projects pending signing? Any written information that highlights our strengths and that accounting does not reflect well.
Guarantees that we can provide: apart from mortgaging the home we want to buy, if we can provide double guarantees (also mortgage another property), solvent guarantors, pledge fixed-term deposits, or any other guarantee for the bank that will charge what it grants us, We have to express in writing.
Demonstrate saving capacity and prudence in spending
Without a doubt, our checking accounts reflect a lot of ourselves. How we spend, what real income we have per month, if we save or we reach the end of the month in red, etc. A self-employed person without savings has a very difficult time applying for a mortgage.
Interview with the banks. Let’s make several copies of the financing dossier, printed with quality and a pleasant design. If we are good commercials, it is time to prove it. We arrange several interviews with the directors of the financial institutions that offer the most competitive mortgages, let us clearly and concisely explain what we do, what we enter and what we offer the bank (the company’s cross business, for example). Do not be discouraged by the “no”, you have to visit banks and different branches until you find the director and the entity that wants to fight our mortgage.