Your home may be repossessed if you do not keep up repayments on your mortgage.
Lenders look at self-employed income differently from a salary, and the right lender for you depends on how you are paid and how your business is set up.
How lenders assess self-employed income
Sole traders: usually your net profit, taken from your tax calculations (SA302s) and tax year overviews.
Limited company directors: your salary and dividends, or with some lenders your share of the company's net profit, which can help if you leave profits in the business.
CIS workers: some lenders assess recent CIS payslips in a similar way to employed income; others use your tax returns.
Partners and LLP members: your share of the partnership profit.
Some lenders want two or three years of figures. Others will consider one year's accounts where your circumstances support it. Knowing which lender takes which approach is a big part of what we do. If you work through day-rate contracts, see our contractor mortgages page.
Documents to prepare
SA302s and tax year overviews for the last one to three years
Company accounts prepared by a qualified accountant (for directors)
CIS payslips or statements
Business and personal bank statements
Proof of deposit and ID
Our guide to SA302s and tax year overviews explains what lenders look for.
Situations we regularly help with
One year's accounts
A recent change from sole trader to limited company
Income that has dropped or fluctuated between years
Retained profits held in the company
Self-employed income alongside employment or rental income
Every case is different and approval is always the lender's decision, so speak to us early and we will tell you honestly what is possible. For other non-standard income, see complex income mortgages.
Our fee
We may charge a broker fee for mortgage advice. Our typical fee is £479, payable only when you receive a mortgage offer. The fee will be confirmed before you proceed.
