Summary

Getting a mortgage as a self-employed professional can be more complex than for employed borrowers. Lenders want to see proof of stable income and financial reliability, which may require additional documentation and planning. Understanding the process can help you secure the right mortgage for your situation.

Introduction

Working for yourself offers flexibility and independence, but it can also make the mortgage process feel more complicated. Lenders need assurance that your income is consistent and sustainable, which can be harder to demonstrate for self-employed applicants.

If you are self-employed and planning to buy a property, knowing what lenders expect and how to prepare your application can significantly improve your chances of approval. A broker from Just Mortgages can help you navigate each step with confidence.

What Counts as Self-Employed Income?

Self-employed income covers a wide range of professions, including freelancers, consultants, contractors, small business owners, and those running their own limited company. Lenders usually consider income evidence such as tax returns (SA302s) for the last two to three years, accountant-prepared accounts showing profit and loss statements, and business bank statements that demonstrate regular cash flow. Some lenders may have stricter rules depending on your business structure and how long you have been trading.

Lender Requirements for Self-Employed Mortgages

While requirements vary by lender, most will want to see a minimum trading history, typically at least two years, although some may accept one year if your accounts are strong. Lenders also prefer consistent or growing earnings rather than fluctuating figures, and your deposit size is important, often ranging from 10 to 15 per cent or more depending on the property type and your income profile. Your credit history will also be assessed, just as with employed applicants, to ensure you are a reliable borrower.

Tips to Improve Your Chances of Approval

To improve your chances of securing a mortgage, it is essential to keep accurate and detailed financial records. Ensure that your accounts, tax returns, and bank statements are up to date and clearly demonstrate your income over time. Offering a larger deposit can reduce the lender’s risk and strengthen your application. If your income comes from freelance or contract work, providing proof of long-term or repeat contracts can reassure lenders of your stability. Finally, working with an experienced mortgage broker can help match you with lenders who are more flexible with self-employed applicants and present your finances in the best possible light.

Common Challenges for Self-Employed Buyers

Self-employed buyers may face a few additional challenges. Fluctuating income can make it harder to satisfy lenders’ requirements, while a short trading history may necessitate extra documentation or specialist lenders. More complex financial structures, such as limited companies, multiple income streams, or irregular contracts, can also require expert guidance to ensure a smooth mortgage application.

How a Just Mortgages Broker Can Help

A broker specialising in self-employed mortgages can identify lenders with flexible criteria and advise on the documentation needed to strengthen your application. They can help you plan your finances, including deposits and affordability checks, and ensure that your mortgage application is submitted in the best possible way. With nationwide access to thousands of mortgage products, Just Mortgages provides tailored support to help self-employed buyers achieve their home ownership goals.

Final Thoughts

Getting a mortgage while self-employed is entirely possible with the right preparation and guidance. By keeping accurate records, demonstrating consistent income, and working with an experienced broker, you can increase your chances of approval and secure the property you want.

If you are self-employed and planning to buy a home, speak to a Just Mortgages broker today for personalised advice and support tailored to your situation.

Just Mortgages is a trading name of Just Mortgages Direct Ltd which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.

Approved by The Openwork Partnership on 24/09/2025.