Self-Employed Mortgages

Self-Employed Mortgages – Expert Advice Across England

Introduction

Being self-employed does not mean you cannot get a great mortgage -- it just means you need to know which lenders to approach. High-street banks often apply rigid criteria that work against self-employed applicants, but as a whole-of-market broker, we have access to lenders who genuinely understand self-employed income and can assess your application fairly.

Sole Traders and Partnerships

As a sole trader, lenders will typically want to see two to three years of SA302 tax calculations and tax year overviews, using your net profit as the basis for affordability. Some lenders will use one year of accounts if your income is growing, and specialist lenders may consider your most recent year only. We know which lenders apply which criteria and will match you to the most favourable.

Limited Company Directors

If you run your own limited company, lenders typically assess your mortgage affordability based on your salary plus dividends. However, some lenders now use salary plus net profit -- which can significantly increase the amount you can borrow if you retain profits in the business. We will identify the right lender and calculation method to maximise your borrowing potential.

Contractors and Freelancers

Many lenders have specialist criteria for contractors working via umbrella companies or personal service companies. Rather than using your net profit, some lenders will annualise your day rate to arrive at a higher income figure -- which can make a substantial difference to how much you can borrow. We will identify the most favourable approach for your contract structure.

Complex or Variable Income

If your income varies year to year -- or includes a mix of PAYE salary, freelance income, rental income, and investment income -- some lenders will struggle to assess your application. We have experience with complex income structures and know which lenders take the most generous view. We will help you present your income in the best possible light.

Self-employed mortgages are not harder to get -- they just need the right broker. Get in touch for a free consultation and we will tell you exactly what you can borrow, which lenders to approach, and what documentation you will need.

Your home may be repossessed if you do not keep up repayments on your mortgage.