Self-employed to employed

I work for a fund on a self-employed contract which I need to buy myself out of to move to a new firm. Can this be done?

The challenge

Our client worked for a proprietary trading fund and had restrictive financial covenants in his self-employed contract. In order to move to a more lucrative employed position, he needed to buy himself out of the contract.

The solution

We got the existing lender comfortable with what was required and why. This meant we could get the further advance he needed to buy himself out, and move to an employed contract which improved his financial remuneration significantly.

After thought

We come across many complex situations, especially in the City with traders and fund manager clients. Understanding the intricacies of their contracts allows us to explain the situation to lenders so they can full understand what is being asked for. Sometimes we act as financial translators!

Other case studies

David was absolutely amazing, from helping us find the right mortgage, to advising us, to being on hand for silly questions we had. Nothing was too much trouble for him. I will absolutely be recommending him to our friends.

Frederica Turner