Self-Employed Mortgages

A mortgage that understands how you earn

Self-employment can give you flexibility, but it can also make a mortgage application less straightforward. Lenders need to understand the income available to support repayments and how sustainable that income is.

We look at the way your business operates, your trading history and your personal commitments. Being self-employed does not automatically mean a separate mortgage product is needed; the important question is how a lender assesses your particular income.

Different income structures need different evidence

A sole trader's profits, a partner's share of income and a director's salary or dividends are not assessed in the same way by every lender. Some lenders may consider retained profits in suitable circumstances, while others use a different approach.

Contractors can face additional questions about their contracts and work history. We help identify the relevant criteria and organise the information that explains your earnings without treating business turnover as personal income.

Explain changes in the business

Seasonal trading, a recent increase in profit or a change in business structure can all need context. A lender may ask for further information if the latest figures differ significantly from earlier results.

If you have recently started trading, speak to us early. The length of history and evidence required vary, so there is no single accounts requirement that applies to every case. An accountant can help confirm the figures and explain material changes.

Build a clear application file

• Business accounts or accountant-prepared information, where required
• Tax calculations such as SA302s and tax year overviews, where applicable
• Personal and business bank statements requested by the lender
• Current contracts and supporting work history for relevant contractor cases
• Deposit evidence and details of personal and business commitments

Look at affordability beyond the latest year

Your mortgage needs to work alongside the costs and uncertainty of running a business. We discuss your budget, cash reserves and plans rather than focusing only on the highest income figure available.

We then explain the suitable options, prepare the application and help respond to underwriting questions. Keeping records organised and raising unusual features early can make the process easier to follow.