Being self-employed doesn't make getting a mortgage impossible — it just makes choosing the right lender more important. Criteria vary enormously between lenders.
How many years of accounts do I need?
Many lenders prefer two years, but some will consider one full year of trading, especially if you were previously employed in the same line of work.
How lenders assess your income
- Sole traders: usually your net profit, often averaged over two years or based on the latest year
- Limited company directors: salary plus dividends, or with some lenders your share of net profit (useful if you retain profits in the business)
- Contractors: some lenders calculate income from your day rate, e.g. day rate × 5 × 46–48 weeks
Documents you'll typically need
- SA302s and Tax Year Overviews from HMRC, or accountant-prepared accounts
- Business and personal bank statements
- For contractors: current contract and CV
- Proof of deposit and ID
More specific help is available for contractor mortgages and company director mortgages.
Expert tip: The right lender can mean a much bigger mortgage for the same income. We know which lenders are friendliest to self-employed applicants and how to present your case.
This guide is general information, not personal advice. Figures are correct at the time of updating and rules can change. Your home may be repossessed if you do not keep up repayments on your mortgage.
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