Self Employed Mortgages

Can I get a Self Employed Mortgage?

Find out if you’re likely to be accepted for a mortgage. It takes just 60 seconds and doesn’t require a credit check.

60 Second Mortgage Qualifier

1 minute. That’s all it takes to find out if you are likely to be accepted for a mortgage and it won’t impact your credit score.

Mortgage Advisor introduction

We will match you to a Mortgage Advisor who will understand your circumstances and help secure the best mortgage for you.

Our service is completely free

Our Mortgage Advisor introduction and mortgage hub service is 100% free. We don’t charge a fee, your broker may charge once successful.

Getting a self employed mortgage

When you work for yourself, it’s quite common for your income to be erratic. Whilst cash flow might be something that you learn to live with, it can be a problem when you come to buy a house, especially in the first few years of starting. Mainstream lenders typically offer mortgages on concrete figures, like a PAYE salary and if you’re self employed, at least 3 solid years of accounts.

If you don’t have that yet and aren’t employed by anyone but yourself, rightly or wrongly, high street mortgage companies will generally not be able to offer you anything. That’s where we come in. We can match you to a Mortgage Advisor who will have access to the whole market and lenders who only require a minimum of 1 year self assessment.

Here’s just a few ways a specialist
adviser can help you…

Up to 95% LTV

Access lenders that require just 5% deposit.

Only 1 Yr Trading

Get a mortgage with just 12 months trading history.

Get More Money

Use your latest accounts rather than an average.

1 Minute

It takes just 60 seconds to find out if you are likely to qualify for a mortgage and won’t affect your credit score.

Specialist Lending

We’ll match you to a broker who will truly understand your circumstances to help find the best deal for you.

Quickly find out if you are likely to be accepted for a mortgage.

Takes 60 seconds and won't affect your Credit Score

What does self employed mean?

You’re going to be classed as self employed if:

  • You are a major shareholder in a business (25% or more)
  • You work as a sole trader
  • You work as a partner of a business

Just how difficult is it to get a self employed mortgage?

Like we said earlier, if you’ve become self employed in the last 12-18 months, the traditional route of applying to a mainstream lender could prove tricky, as they work to a set of immutable criteria. The best route for someone in this position is to talk to one of the growing number of specialist mortgage brokers whose USP is that they have access to deals that you won’t find on the high street.

The deals we speak of are most certainly competitive in the marketplace, but the overriding benefit of these mortgages is that they have a broad criteria of acceptance and are suited to recently self employed people who can prove their income.

Can you not still do a self certify mortgage?

Unfortunately not. Since 2011, the Financial Conduct Authority have outlawed self cert mortgages, where the self employed were not required to prove their income.

In order to give yourself the best possible chance of success, you’re going to need to have the following as a minimum:

  • Tax Calculation (most recent year)
  • Tax Overview (minimum 1 year)
  • Current Tax year Salary/Dividend projection* (these may be requested to be supplied by your accountant if you have less than 3 years history)
  • Projected Accounts for the current tax year* (these may be requested to be supplied by your accountant if you have less than 3 years history)
  • Company Accounts* (minimum 1 year full accounts)
  • 3 Months Wage Slips (if applicable)
  • 3 Months Business Bank Statements
  • 3 Months Personal Bank Statements
  • Credit Reports from the 3 main agencies – More info
  • Current Tax year projected accounts (these may be requested to be supplied by your accountant if you have less than 3 years history)

*Only applicable if your business operates as a limited company.

Specialist Adviser

At Niche Mortgage Info, we work with a group of carefully selected niche mortgage brokers, who have access to lenders that are prepared to take your entire financial picture into account and not automatically dismiss your application simply because you don’t meet all of their rigid criteria.

These niche lenders are also able to take other factors like being a Company Shareholder or Company Director into account, giving them their full weight of importance to the affordability of your mortgage.

If you’re in this position and you’d like more information on the subject, why not try our 60 Second Qualify today and let us introduce you to a broker who will truly understand your circumstances and help find you the best mortgage deal possible.

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60 Second Mortgage Qualifier

Quickly find out if you’re likely to be accepted for a mortgage. Fast, free and it won’t affect your credit score.