Self-Employed Mortgages

Getting a mortgage when you are self-employed can feel more complicated than it should.

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You may have a strong income, a profitable business and a healthy deposit, yet still find that different mortgage lenders assess your circumstances in very different ways.

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That is because there is no single method used by every lender when assessing self-employed income.

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Some may focus on your latest accounts. Others may average income over several years. Limited company directors can be assessed differently depending on whether a lender looks at salary and dividends, company profits or another measure of business performance.

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This is where choosing the right lender can make a significant difference.

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I help self-employed applicants understand how mortgage lenders may view their income, what documentation is likely to be required and which mortgage options may be suitable for their circumstances.

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Whether you are a sole trader, company director, contractor, freelancer or business owner, I can help you navigate the mortgage process and understand what may be possible.

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Can Self-Employed People Get a Mortgage?

 

 

Yes. Being self-employed does not automatically make it difficult to get a mortgage.

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Mortgage lenders regularly lend to self-employed applicants.

 

The main difference is often how income is evidenced and assessed.

 

An employed applicant may be able to demonstrate income using payslips and a P60.

 

A self-employed applicant may instead need to provide documents such as:

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• Business accounts.

• Tax calculations.

• Tax year overviews.

• Company accounts.

• Business bank statements.

• Personal bank statements.

• Accountant details.

• Evidence of contracts where relevant.

 

The exact documents required will depend on your business structure and the lender.

 

The important thing is that different lenders can interpret the same financial information differently.

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Why Can Self-Employed Mortgages Be More Complicated?

 

 

The challenge is not usually that lenders do not want to lend to self-employed applicants.

 

It is that self-employed income can be structured in many different ways.

For example, two business owners may both earn broadly the same amount but have completely different financial structures.

 

One may be a sole trader whose taxable profit is straightforward.

 

Another may operate through a limited company, take a relatively modest salary and leave a significant amount of profit inside the business.

 

A third may receive a mixture of salary, dividends and other income.

 

These applicants may look very different to different mortgage lenders.

 

As a Mortgage Broker, I can help identify lenders whose assessment methods are better suited to the way your income is structured.

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Self-Employed Mortgage Advice

 

 

I work with applicants whose circumstances may include:

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• Sole traders.

• Limited company directors.

• Contractors.

• Freelancers.

• Business partners.

• Consultants.

• Professionals running their own businesses.

• Applicants with fluctuating income.

• Applicants with retained profits.

• Applicants with a relatively short trading history.

• Applicants whose latest year is stronger than previous years.

 

My approach is to understand the business and your personal income properly before looking at mortgage options.

 

This can help avoid situations where an application is submitted to a lender whose criteria do not suit your circumstances.

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How Do Mortgage Lenders Assess Self-Employed Income?

 

 

There is no single approach.

 

The way your income is assessed depends largely on your business structure.

 

A lender may also consider:

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• How long you have been trading.

• Whether income is increasing or decreasing.

• Your latest year's performance.

• The consistency of the business.

• The type of work you do.

• Your existing financial commitments.

• The size of your deposit.

• Your credit history.

• The mortgage amount required.

 

Some lenders may average income over two or three years.

 

Others may place greater weight on the most recent year in certain circumstances.

 

This is why one lender may offer significantly more borrowing than another even when they are looking at exactly the same accounts.

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Mortgages for Sole Traders

 

 

If you are a sole trader, lenders will typically want to understand the profit generated by your business.

 

Your taxable income may be used as part of the affordability assessment.

 

Depending on the lender, they may look at:

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• Your latest year's profit.

• An average over recent years.

• Trends in your income.

• Whether the business appears sustainable.

 

If your profit has increased substantially, some lenders may be more comfortable using the latest figure than others.

 

If your income has fallen, the lender may want to understand why.

 

Having the right documentation ready can make the process considerably easier.

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Mortgages for Limited Company Directors

 

 

Limited company directors can have more complex mortgage applications because their personal income may not reflect the full financial performance of the company.

 

You may receive income through:

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• Salary.

• Dividends.

• A combination of salary and dividends.

 

You may also deliberately leave money inside the company rather than withdrawing it personally.

 

This can create a situation where your business is performing very well but your personal taxable income appears relatively modest.

 

Different lenders can take very different approaches to this.

 

Some may assess affordability using salary and dividends.

 

Others may be able to consider additional aspects of the company's profits or your share of business income, subject to their criteria.

 

This can make lender selection particularly important for company directors.

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What Are Retained Profits?

 

 

Retained profits are profits that remain within a limited company rather than being distributed to shareholders.

 

Many business owners choose not to withdraw every pound their company makes.

 

There can be sensible commercial reasons for retaining money in the business, such as:

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• Maintaining cash reserves.

• Investing in growth.

• Purchasing equipment.

• Hiring staff.

• Managing future tax liabilities.

• Protecting the business during quieter periods.

 

However, this can sometimes make mortgage affordability appear lower if a lender only looks at salary and dividends.

 

Some lenders may take a wider view of company performance depending on their criteria.

 

If retained profits form an important part of your financial position, it can be useful to discuss this before making mortgage applications.

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Can Retained Profits Help Me Borrow More?

 

 

Potentially. The answer depends on the lender, the structure of the business and your shareholding.

 

Some lenders may be able to consider a broader measure of company income than simply salary and dividends.

 

This does not mean all retained profit can automatically be treated as personal income.

 

The lender will normally want to understand the company's financial position and sustainability.

 

This is a specialist area where mortgage lender criteria can vary considerably.

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What If I Take a Low Salary From My Company?

 

 

Many limited company directors choose to take a relatively modest salary from their company.

 

They may then receive dividends or leave money in the business.

 

If a mortgage lender assesses only the salary figure, the resulting borrowing capacity may be significantly lower than expected.

 

However, other lenders may assess company directors differently.

 

The key is to understand which lenders are likely to reflect your true financial position more accurately.

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Mortgages for Contractors

 

 

Contractors can be assessed differently from traditional employees or other self-employed applicants.

 

Depending on your circumstances, a lender may consider factors such as:

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• Your contract value.

• Day rate.

• Length of the current contract.

• Contract history.

• Time remaining on the contract.

• Gaps between contracts.

• Industry experience.

 

Some contractors may be able to obtain mortgages without being assessed purely on traditional accounts, depending on lender criteria.

 

This can be particularly useful for professionals whose earnings are strong but whose company accounts do not fully reflect their current earning capacity.

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Day Rate Contractor Mortgages

 

 

If you work on a day rate, certain mortgage lenders may be able to use that rate as part of their affordability calculation.

 

The exact calculation varies.

 

The lender may consider:

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• Your agreed daily rate.

• Expected working days.

• The contract duration.

• Your contracting history.

• Your profession.

 

Not every lender assesses contractors in the same way.

 

A lender using contract-based income may produce a very different affordability result from one using company accounts.

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Mortgages for Freelancers

 

 

Freelancers can often have irregular income.

 

You may work with several clients, have stronger and weaker months or generate income from multiple sources.

 

Mortgage lenders may still be able to consider this income.

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They may want to review:

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• Trading history.

• Tax returns.

• Accounts.

• Bank statements.

• Client contracts.

• Income trends.

 

The stability and sustainability of the income can be important.

 

A fluctuating income does not automatically prevent you from obtaining a mortgage.

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Mortgages for Business Partners

 

 

If you are a partner in a business, lenders may assess your share of the partnership profits.

 

The evidence required can vary depending on how the partnership is structured.

 

For example, lenders may ask for:

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• Partnership accounts.

• Personal tax calculations.

• Tax year overviews.

• Accountant confirmation.

 

If profits have changed significantly over recent years, the lender may want to understand the trend.

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How Many Years of Accounts Do I Need?

 

 

This is one of the most common questions self-employed applicants ask.

 

There is no single answer.

 

Many lenders prefer applicants to have a track record of self-employment.

 

However, the number of years required can differ.

 

Some applicants may be able to obtain a mortgage with a shorter trading history depending on:

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• Previous employment.

• Industry experience.

• Current business performance.

• Income.

• Deposit.

• Lender criteria.

 

Having less than three years of accounts does not automatically mean you cannot get a mortgage.

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Can I Get a Mortgage With One Year's Accounts?

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Potentially. Some mortgage lenders may consider applicants with a shorter self-employed history.

 

This can depend on:

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• The strength of the first year's figures.

• Your experience in the same industry.

• Your previous employment.

• Business structure.

• Deposit size.

• Credit profile.

• The amount you need to borrow.

 

For example, somebody who leaves employment as an accountant and starts their own accountancy practice may be viewed differently from someone entering a completely new industry.

 

The circumstances need to be assessed individually.

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What If I Have Less Than One Full Year of Trading?

 

 

This can be more challenging, but your options will depend on your circumstances.

 

A lender may want to see a completed trading period before considering the application.

 

However, previous experience and the structure of your work can sometimes be relevant.

 

Contractors may also be assessed differently from traditional self-employed applicants.

 

If you are planning to buy a property soon after becoming self-employed, it is worth discussing the mortgage position as early as possible.

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What If My Income Has Increased?

 

 

Many growing businesses produce significantly stronger figures over time.

 

For example:

 

• Year one: £35,000

• Year two: £50,000

• Year three: £75,000

 

Some lenders may use an average.

 

Others may be more willing to consider the latest year's figure where the increase appears sustainable and can be explained.

 

This difference can have a significant effect on affordability.

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If your latest year is substantially stronger than previous years, I can help you explore how different lenders may assess that growth.

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What If My Income Has Fallen?

 

 

A fall in income does not necessarily mean a mortgage application will be declined.

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However, lenders may want to understand why the income has reduced.

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For example, the reduction might be because:

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• You invested heavily in the business.

• You took time away from work.

• You lost a major client.

• Market conditions changed.

• Business costs increased.

• The previous year was unusually strong.

 

The lender may assess whether the current income appears sustainable.

 

Some lenders may use the lower figure rather than an average if income is falling.

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What If My Latest Accounts Are Not Ready Yet?

 

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Timing can be important.

 

You may have completed another successful trading year, but the formal accounts may not yet have been finalised.

 

Some lenders may require completed accounts or updated tax information before they can use the newer figures.

 

The requirements vary.

 

If your borrowing capacity depends heavily on your latest year's performance, it may be worth considering whether finalising your accounts before applying would improve your mortgage position.

 

You may want to discuss this with your accountant as well as your mortgage adviser.

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Do Mortgage Lenders Speak to My Accountant?

 

 

Sometimes. Depending on the lender and application, an accountant's reference or confirmation may be requested.

 

The lender may want clarification regarding:

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• Income.

• Company ownership.

• Trading history.

• Business performance.

• Accounts.

 

Having an accountant who can respond promptly to requests can help avoid unnecessary delays.

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Does My Accountant Need to Be Qualified?

 

 

Some lenders have specific requirements regarding the professional body or qualification of the accountant preparing or confirming business information.

 

This varies between lenders.

 

It can therefore be useful to understand who prepares your accounts before choosing a mortgage lender.

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What Documents Do I Need for a Self-Employed Mortgage?

 

 

Requirements vary depending on the lender and your business structure.

 

You may be asked for some combination of:

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• Identification.

• Proof of address.

• Personal bank statements.

• Business bank statements.

• Tax calculations.

• Tax year overviews.

• Company accounts.

• Sole trader accounts.

• Partnership accounts.

• Accountant details.

• Contracts.

• Payslips if you draw a salary through your company.

• Dividend information.

 

You may not need every document listed above.

 

I can help you understand what is likely to be required for the mortgage route being considered.

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Tax Calculations and Tax Year Overviews

 

 

Self-employed applicants are often asked for evidence from HMRC relating to declared income.

 

This may include tax calculations and tax year overviews.

 

These documents can help confirm the income reported for tax purposes.

 

The exact evidence required will depend on the lender.

 

It is worth obtaining relevant tax documents early rather than waiting until the mortgage application has already been submitted.

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Do Business Bank Statements Matter?

 

 

Potentially. Some lenders may ask for recent business bank statements.

These can help provide additional context around:

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• Trading activity.

• Income.

• Business commitments.

• Cash flow.

 

They may be particularly relevant where the lender wants to understand the current performance of the business.

 

Keeping business and personal banking organised can make mortgage applications easier to document.

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Can I Get a Mortgage If I Have Taken Money Out of My Business?

 

 

Potentially. Business owners often withdraw funds for deposits or other personal purposes.

 

However, if taking a large amount from the company affects the financial health of the business, a lender may want to understand the position.

 

You should also consider the tax implications of withdrawing money from a limited company.

 

Tax advice should be obtained from a suitably qualified tax adviser or accountant where necessary.

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Can My Business Provide My Mortgage Deposit?

 

 

This needs careful consideration. If you intend to use money currently held within your company, the method by which it is withdrawn can have tax and accounting consequences.

 

The mortgage lender will also normally need to understand the source of the deposit.

 

You should speak with your accountant or tax adviser before withdrawing company funds for a property purchase.

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How Much Can I Borrow If I Am Self-Employed?

 

 

The amount you can borrow depends on the lender's affordability assessment.

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Factors can include:

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• Your assessed income.

• Deposit.

• Existing borrowing.

• Credit cards.

• Car finance.

• Dependants.

• Childcare.

• Mortgage term.

• Age.

• Credit history.

 

The key issue for self-employed applicants is often which income figure the lender uses.

 

For example, one lender may assess a limited company director using salary and dividends.

 

Another may assess the same applicant using a different measure of company performance.

 

That can produce substantially different borrowing results.

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Can I Borrow More With One Lender Than Another?

 

 

Yes. This applies to employed borrowers too, but it can be particularly noticeable for self-employed applicants.

 

Different lenders may use different:

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• Income calculations.

• Affordability models.

• Treatment of business profits.

• Contractor calculations.

• Minimum trading periods.

 

It is possible for two lenders to reach significantly different affordability outcomes using the same applicant information.

 

This is one reason why applying directly to a single bank may not always give you a complete picture.

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Does a Bigger Deposit Help?

 

 

A larger deposit can potentially provide access to a wider range of mortgage

products.

 

It can also reduce your loan-to-value.

 

For example:

 

• Property price: £500,000

• Deposit: £100,000

• Mortgage: £400,000

 

This would be an 80% loan-to-value mortgage.

 

If the deposit increased to £150,000, the mortgage would reduce to £350,000, representing a 70% loan-to-value.

 

Lower loan-to-value borrowing may open up different mortgage products.

However, affordability still matters.

 

A large deposit does not automatically compensate for insufficient income under a lender's criteria.

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Self-Employed First-Time Buyer Mortgages

 

 

Being both self-employed and a first-time buyer can understandably feel daunting.

 

You are dealing with the property-buying process for the first time while also having to evidence income in a different way from an employed applicant.

 

The process can be much easier when your documentation is prepared early.

 

I can help you understand:

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• Likely borrowing.

• Deposit requirements.

• Income evidence.

• Agreement in Principle.

• Mortgage options.

• Application documents.

 

You can also read my dedicated First-Time Buyer Mortgages page.

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Self-Employed Home Mover Mortgages

 

 

If you are moving home, your employment situation may be different from when you originally bought your property.

 

Perhaps you were employed when you took out your current mortgage but now run your own business.

 

Your current lender may therefore assess you differently when you apply to move.

 

You may also need more borrowing for the new property.

 

I can help you compare:

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• Porting your existing mortgage.

• Additional borrowing.

• Staying with your current lender.

• Moving to another lender.

 

You can read more on my Moving Home Mortgages page.

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Remortgaging When Self-Employed

 

 

If your current mortgage deal is approaching its end, becoming self-employed does not necessarily mean you must stay with your existing lender.

 

You may still be able to move to another lender, depending on your trading history, income and circumstances.

 

However, if your self-employed history is very short, a product transfer with your current lender may also be worth considering.

 

The right option depends on your individual circumstances.

 

Visit my Remortgages page for more information.

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Can I Get a Mortgage If I Recently Became Self-Employed?

 

 

Potentially. The number of lenders available may be smaller than for somebody with a longer trading history, but recent self-employment does not automatically prevent you from getting a mortgage.

 

Your previous career can be particularly relevant.

 

If you have moved from employed work into self-employment within the same profession, some lenders may view that more favourably than a completely new career.

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Can I Get a Mortgage If My Business Is Only Two Years Old?

 

 

Potentially, yes. Many self-employed applicants apply for mortgages after two completed years of trading.

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The lender may consider:

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• Both years' income.

• Whether profit is increasing or decreasing.

• Your current business activity.

• Your other financial commitments.

 

The lender's treatment of those figures can vary.

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Can I Get a Mortgage If I Have Changed From Sole Trader to Limited Company?

 

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Potentially. It is common for a business owner to begin as a sole trader and later incorporate into a limited company.

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Some lenders may consider the overall trading history where there is clear continuity in the business.

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Others may take a stricter approach.

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The details matter, including:

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• Whether the underlying business is the same.

• Whether ownership has changed.

• Your role.

• The financial history.

 

This is worth discussing before applying.

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What If I Own More Than One Business?

 

 

Owning multiple businesses can make the income assessment more detailed.

 

You may receive income from:

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• More than one limited company.

• A partnership and a company.

• Self-employment alongside PAYE income.

• Investments alongside business income.

 

Some lenders may be able to consider multiple income streams where the appropriate evidence is available.

 

The application should be structured carefully so that the income can be clearly explained.

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Can I Use Income From a Second Business?

 

 

Potentially. Whether it can be included will depend on:

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• How long the income has been received.

• The structure of the business.

• The lender's criteria.

• Whether the income appears sustainable.

 

A lender may not automatically include every income source.

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Mortgages for Professionals Who Are Self-Employed

 

 

Professionals such as doctors, dentists, accountants, solicitors, consultants and other specialists may have income structures that differ from traditional employed applicants.

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Some may operate through limited companies or partnerships.

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Others may combine employed and self-employed work.

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Depending on the circumstances, certain lenders may have criteria that work particularly well for professional applicants.

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Can I Get a Mortgage If I Have a Tax Bill?

 

 

Having a normal tax liability does not automatically prevent you from getting a mortgage.

 

However, unpaid tax debts or payment arrangements may need to be disclosed and could affect affordability or lender choice.

 

If there is an outstanding liability, it is better to understand how lenders may treat it before submitting an application.

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Does Business Debt Affect My Mortgage?

 

 

Potentially. Lenders may want to understand business commitments where they could affect your personal financial position or the sustainability of your income.

 

This may include:

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• Business loans.

• Commercial finance.

• Overdrafts.

• Director's loans.

• Other liabilities.

 

The impact will depend on the structure of the borrowing and the lender's criteria.

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Does a Bounce Back Loan Affect a Mortgage?

 

 

Where a business has historic or existing borrowing, lenders may consider how those commitments affect the financial position of the business.

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The treatment varies between lenders and depends on the circumstances.

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If your company has business borrowing, it should be disclosed accurately where requested.

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What About Director's Loans?

 

 

Director's loan accounts can sometimes raise questions during a mortgage application.

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For example, you may owe money to the company or the company may owe money to you.

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The lender may want to understand the position where it is material to the business finances.

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If a director's loan account is significant, it can be useful to discuss it early.

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Self-Employed Mortgages With Bad Credit

 

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Being self-employed and having historic credit issues does not automatically mean a mortgage is impossible.

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The options available can depend on:

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• Type of credit issue.

• Amount involved.

• How recently it occurred.

• Current financial conduct.

• Deposit size.

• Income.

• Lender criteria.

 

Potential issues might include:

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• Missed payments.

• Defaults.

• County court judgments.

• Historic arrears.

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Different lenders take different approaches.

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The most appropriate route will depend on the whole application rather than one individual credit score.

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Does My Credit Score Matter?

 

 

Your credit history matters, but there is no single universal mortgage credit score.

 

Different lenders have their own internal assessment systems.

 

They may consider:

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• Credit history.

• Existing borrowing.

• Payment history.

• Electoral roll information.

• Recent applications.

• Overall affordability.

 

A score shown by a consumer credit app does not guarantee that a lender will accept or decline a mortgage.

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Should I Improve My Accounts Before Applying?

 

 

You should not artificially change your business purely to obtain a mortgage.

 

However, timing can sometimes matter.

 

If you are close to the end of a strong financial year, completing your accounts may potentially change the income evidence available to lenders.

 

Equally, reducing declared income purely to minimise tax can have consequences for mortgage affordability.

 

Mortgage and tax planning can interact, so you may want to speak to your accountant before making significant decisions.

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Should I Speak to My Accountant Before Applying?

 

 

It can be useful.

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Your accountant may help you:

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• Understand your latest financial figures.

• Finalise accounts.

• Obtain tax documents.

• Explain business structure.

• Consider tax implications of withdrawing money.

 

Your accountant provides accounting and tax advice.

 

I can then help you understand how mortgage lenders may assess the resulting figures.

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Should I Apply Directly to My Own Bank?

 

 

You can. However, your bank will generally assess you using its own lending criteria.

 

If those criteria do not suit the way your business income is structured, the result may not reflect what other lenders could potentially offer.

 

For example, one bank may base affordability on salary and dividends while another lender may take a different view.

 

Using a broker can help you explore those differences before making an application.

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Why Use a Mortgage Broker If You Are Self-Employed?

 

 

Self-employed mortgages are one of the areas where lender criteria can make a particularly large difference.

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The challenge is often not whether you earn enough.

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It is whether the lender's method of assessing your income accurately reflects your circumstances.

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As a Mortgage Broker, I can help you:

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• Understand how your income may be assessed.

• Identify the documents you need.

• Review your trading history.

• Compare lender criteria.

• Assess borrowing potential.

• Prepare an Agreement in Principle.

• Structure the mortgage application.

• Deal with lender questions during underwriting.

• Understand what happens next.

 

The objective is to match your circumstances with a lender that understands the way you earn your income.

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Self-Employed Mortgage Advice Across Manchester and Cheshire

 

 

I help self-employed clients throughout Manchester, Cheshire and surrounding areas.

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This includes applicants in:

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• Altrincham.

• Hale.

• Hale Barns.

• Bowdon.

• Sale.

• Didsbury.

• Wilmslow.

• Alderley Edge.

• Prestbury.

• Knutsford.

• Mobberley.

• Handforth.

 

Many of these areas have large numbers of company directors, consultants, contractors and business owners whose income structures may not fit neatly into a standard mortgage application.

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I can also provide mortgage advice remotely, so you do not need to live locally for me to help.

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Common Self-Employed Mortgage Mistakes

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Assuming Your Own Bank Is Your Only Option

 

Different lenders assess self-employed income in different ways.

One lender declining or offering insufficient borrowing does not necessarily represent the whole market.

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Applying Before Understanding the Income Figures

 

It is useful to know exactly what your latest accounts and tax documents show before submitting a mortgage application.

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Assuming All Lenders Use the Same Income

 

A limited company director may receive dramatically different affordability results depending on how the lender assesses the company.

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Leaving Accounts Until the Last Minute

 

If your latest financial year is important to your borrowing position, delays in finalising accounts could affect the mortgage application.

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Reducing Income Without Considering Mortgage Plans

 

Business owners often structure income tax-efficiently, but lower personal taxable income can potentially reduce mortgage affordability with some lenders.

 

Discuss the implications with your accountant where appropriate.

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Taking Money From the Business Without Advice

 

Using company funds for a property deposit can have tax implications.

 

Speak to your accountant or tax adviser before making withdrawals.

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Making Multiple Mortgage Applications

 

Repeated applications without understanding lender criteria can be unnecessary.

 

It is generally better to identify a suitable route before applying.

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Assuming One Year's Accounts Means No Mortgage

 

Some lenders may consider shorter trading histories depending on the circumstances.

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Focusing Only on the Interest Rate

 

A competitive interest rate is important, but lender eligibility, product fees and overall mortgage cost also matter.

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Self-Employed Mortgage FAQs

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Is it harder to get a mortgage when self-employed?

 

Not necessarily. Self-employed applicants regularly obtain mortgages, but income may need to be evidenced differently and lender criteria can vary significantly.

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How many years of accounts do I need?

 

There is no universal requirement. Some lenders prefer a longer trading history, while others may consider applicants with fewer completed years depending on the circumstances.

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Can I get a mortgage with one year's accounts?

 

Potentially. Some lenders may consider one year's trading history, particularly where there is relevant previous experience and strong current income.

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Can a limited company director get a mortgage?

 

Yes. Limited company directors regularly obtain mortgages. Different lenders may assess salary, dividends and company performance differently.

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Can retained profits be used for mortgage affordability?

 

Some lenders may be able to consider a broader measure of company profits depending on their criteria. This varies significantly between lenders.

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Can I get a mortgage if I only take a small salary?

 

Potentially. Your mortgage options will depend on how the lender assesses your overall income and business position.

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Can contractors get mortgages?

 

Yes. Some lenders may assess contractors using accounts, while others may consider contract or day-rate income depending on their criteria.

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Can I get a mortgage after becoming self-employed?

 

Potentially. The options depend on your trading history, previous employment, industry and the lender's criteria.

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Can I remortgage if I am self-employed?

 

Yes, subject to affordability and lender criteria.

 

Visit my Remortgages page for more information.

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Can I move house if I have become self-employed?

 

Yes. Your mortgage will usually be assessed using your current circumstances.

 

Visit my Moving Home Mortgages page for more information.

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Does being self-employed mean I will pay a higher mortgage rate?

 

Not automatically. The mortgage rate available will depend on factors including the lender, loan-to-value, product, credit history and your overall circumstances.

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Will a lender look at my business bank account?

 

Some lenders may request business bank statements as part of their assessment.

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Do I need an accountant to get a mortgage?

 

Not necessarily, although some lenders may have requirements concerning the preparation or confirmation of business financial information.

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Can I get a mortgage if my income changes every year?

 

Potentially. Lenders may consider income trends and may use an average or another method depending on their criteria.

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Can I get a mortgage if my latest year's income is much higher?

 

Potentially. Some lenders may give greater weight to the latest year's figures where the increase appears sustainable.

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Can I use company money as my deposit?

 

This depends on how the money is withdrawn and the lender's requirements.

 

There can also be tax implications, so advice from your accountant or tax adviser may be necessary.

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Thinking About a Mortgage While Self-Employed?

 

 

Being self-employed should not mean you have to guess which mortgage lenders will understand your income.

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The most important step is often understanding how your business finances translate into mortgage affordability.

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I can help you review your income, trading history, deposit and financial commitments before exploring mortgage options that may fit your circumstances.

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Whether you are buying your first home, moving property or remortgaging, getting the right preparation in place can make the mortgage process much smoother.

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If you are self-employed and would like to understand what you may be able to borrow, get in touch and we can start by looking at your circumstances.