Self-Employed

Self-employed mortgage broker support

Being self-employed should not make getting a mortgage harder, but the truth is that some lenders are more difficult than others. We know exactly which lenders accept different income types, how many years of accounts you need, and how to present your application in the strongest light.

Talk to us

Mortgage advice, made simple

Get clear advice before you apply.

Tell us how you are paid and we will explain how lenders may view the income.

FCA regulated, whole-of-market mortgage advice.
No jargon and no pressure to proceed.
We explain fees, risks and next steps before any application.

Your home may be repossessed if you do not keep up repayments on your mortgage. Some specialist or buy-to-let finance may not be regulated by the FCA.

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Prefer to talk? Call 01772 217917.

FCA Regulated

1 year accounts

All income types

Contractor friendly

The self-employed challenge

Self-employed borrowers face a different set of hurdles to employees. Income can vary year to year, tax efficiency often reduces the amount shown on paper, and not all lenders assess self-employed income the same way. We specialise in finding the right lender for your situation.

Whether you are a sole trader, a limited company director, a freelancer or an IT contractor, we have arranged mortgages for people in your exact position. We know which lenders are genuinely self-employed friendly and which ones just say they are.

Types of self-employed income

Sole traders

Income is assessed on your net profit from your SA302 tax calculations or certified accounts. Most lenders want two years, but we know which ones accept just one year of trading history.

Limited company directors

Lenders typically use salary plus dividends as your income. Some will also consider retained profits in the company, which can significantly increase how much you can borrow.

Contractors

If you work on fixed-term contracts, certain lenders will use your day rate multiplied by the number of working weeks to calculate your income, rather than just looking at what you pay yourself through your company.

What you will need

Different lenders ask for different documentation. Typically you will need:

Two years of SA302s and tax year overviews (some accept one year)
Certified accounts prepared by a qualified accountant
Bank statements (personal and business)
Proof of upcoming contracts (for contractors)

Tax-efficient does not mean low income

Good accountants minimise your tax bill. The downside is that lenders see a lower income figure. We know which lenders look beyond the tax return and consider the full picture, including retained profits, gross contract income and business bank balances.

Common questions

How many years trading?

Most lenders want at least two years of filed accounts or SA302s. Some specialist lenders accept just one year, and a handful will consider less if you were previously employed in the same industry.

Can I use retained profits?

Yes, some lenders will add your share of retained profits in the business to your salary and dividends figure. This can make a significant difference to how much you can borrow.

What about CIS subcontractors?

If you work in construction under the CIS scheme, some lenders assess your gross CIS income rather than your net self-employed profit. This can dramatically increase your borrowing power.

Do I need an accountant?

Technically no, but in practice lenders strongly prefer accounts prepared by a qualified accountant (ACA, ACCA or CIMA). If your accounts are self-prepared, the choice of lenders is much more limited.

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