🧾 Mortgages for the Self-Employed: What You Need to Know
- thomasmaben
- May 17
- 2 min read
🧾 Mortgages for the Self-Employed: What You Need to Know
If you're self-employed and thinking about buying a home or remortgaging, you're not alone - and you're not at a disadvantage either. While the process can feel a little more complex, the key is preparation and understanding how lenders view your income.
Here’s what you need to know:
✅ 1. You Can Get a Mortgage - It Just Takes the Right Approach. Contrary to popular belief, self-employed clients are not penalised by lenders but you will need to provide more detailed evidence of your income. The goal is to show that your earnings are reliable and sustainable.
📁 2. Documents You’ll Likely Need:
SA302s (tax calculations) for the last 2 years
Tax Year Overviews to match those years
Business accounts (especially if you’re a limited company)
3 months of business and personal bank statements (more than 3 months may be required in certain circumstances)
If you’ve only been trading for 1 year, don’t panic! Some lenders will still consider you, particularly if you're in a similar role or industry as your previous employment.
💷 3. How Income is Assessed:
Lenders will look at:
Sole traders: net profit from your tax returns
Limited company directors: salary + dividends (some also consider salary and retained profit)
Different lenders assess self-employed income differently, which is why tailored advice is so important.
Top Tips for Getting Mortgage-Ready:
1) File your taxes early - don’t wait until January
2) Keep personal and business accounts separate
3) Avoid large unexplained withdrawals or deposits
4) Speak to a broker early, especially if your income has grown or changed
Why Use a Broker Like Maben Mortgages?
As a specialist in self-employed mortgages, I know exactly which lenders to approach based on your business structure and documents. I’ll also help you present your case clearly to improve your chances of success saving you time, paperwork, and stress with tailored and ethical advice.
📞 Ready to get started?
Whether you’re buying your first home, moving, or remortgaging I can help you explore your options and understand what you could borrow. You can contact me on:
07712 337518
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