Self Employed Mortgages

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Self Employed Mortgages

Self Employed Mortgages now possible.

How you can get a mortgage if you’re self-employed

It’s increasingly possible to get self-employed mortgages. As more and more people set up on their own, or work in more flexible ways, being self-employed is no longer a niche thing. You will, however, need to show a reliable income. You will need to demonstrate that you pass the lender’s affordability criteria and provide evidence of your income.

The good news is that lenders are very in tune with this now. Below are the main ways you may be set up and broadly how lenders look at your income when considering self-employed mortgages.

Limited Company Director

Lenders typically take, one, some or all of the following: Salary, Dividends, Net Profit.
Income is often worked out as an average over a 2 to 3-year period. But some lenders will take the most recent year if on an upward trend.
Minimum time trading to get a mortgage is 12 months (or one set of accounts).

LLP Partner/Partnerships

The two most common ways to evidence your income will be:

Letter from the FD/Managing Partner to clarify drawings.
A copy of your tax return (specifically, the SA302 document).

Sole Trader

Much as for Limited companies, your net profit will be averaged over the last few years to determine your income and as above, if on an upward curve, the most recent year can be used.

How We Can Help

As you can see above, the more complex the income, the more help you often need to be approved for self-employed mortgages.

We specialise in this area, so would encourage you to speak to one of the The Team just to see what your options are before progressing too far with an application. This will ensure you get a smooth experience when applying for self-employed mortgages.

Mortgages for Life’s Goals

Is it harder to get self-employed mortgages?

Talk to a Professional Mortgage Advisor

We care about finding you the best self employed mortgage

Call our expert advisers now
0207 935 7866

Book a Consultation

How to find us

Head Office
The Leather Market, Unit 13.1.1, 11-13 Weston Street, London, SE1 3ER
Call 0207 935 7866
Email info@rosecp.co.uk

A fee of up to 1% of the mortgage amount may be charged depending on your circumstances (ie. £1000 on a £100,000 mortgage). A typical fee is £495 plus we will receive commission from the lender.

Your property may be repossessed if you do not keep up repayments on your mortgage.

Rose Capital Partners Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy-to-Let. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. Rose Capital Partners Ltd. Registration No. 08843654 registered in England and Wales. Registered Address, Leigh Saxton Green, Clearwater House, 4-7 Manchester Street, London W1U 3AE.