Mortgages
Mortgages for the self-employed
Sole traders and partners: how lenders read your tax returns.
- No obligation
- Takes 2 minutes
- Speak to a real adviser
- FCA regulated
- Whole-of-market
- 90+ lenders
- Personal adviser support
The short answer
Self-employed, explained in plain English.
Written by Aditi Sinha, mortgage and protection adviser
Updated
Most lenders work out a self-employed income from your last two years' tax calculations and tax year overviews, usually taking an average or the latest year if it is lower. Some will consider one year's figures, and some can look at a rising income more favourably. We match you with lenders whose approach suits your figures and how long you have been trading.
Who this is for: Sole traders and partners in a partnership who are buying, moving or remortgaging, including people who have recently become self-employed.
Your options
Your adviser compares these with you and explains the trade-offs before you decide.
Two years of figures
The widest choice of lenders, based on your tax calculations and tax year overviews.
One year of figures
Some lenders accept a single year, often if you worked in the same field before.
Rising or changing income
Some lenders use your latest year rather than an average when your income has grown.
How it works
From first call to completion.
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01
Review your figures
We look at your tax calculations, tax year overviews and how long you have been trading.
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02
Match lenders
We shortlist lenders whose way of assessing self-employed income suits you.
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03
Apply
We get an agreement in principle, then submit the full application with your documents.
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04
Offer to completion
We keep the lender, solicitor and you updated until the mortgage completes.
Before you start
Costs and risks to know about.
Costs to budget for
- Deposit
- Lender product fees
- Valuation and legal fees
- An accountant’s reference, if the lender asks for one
- Our fee, if any — explained in writing first
Risks
Your home may be repossessed if you do not keep up repayments on your mortgage.
We explain the risks of any recommendation in writing before you proceed.
01How many years of accounts do I need?
Usually two years of tax calculations, though some lenders will consider one. We check which lenders fit your trading history.
02What documents will lenders ask for?
Typically your tax calculations and tax year overviews from HMRC, bank statements and sometimes an accountant’s reference.
03Can I get a mortgage if my income went down last year?
Often yes, but most lenders will use the lower figure. We look at how each lender would treat your figures before applying.
Mortgage enquiry
Talk to an adviser about self-employed.
Takes about two minutes. An adviser will be in touch to talk through your options.
- 1What you need
- 2Property details
- 3Your details
- ✓Adviser follow-up
Why people enquire with us
- A named adviser and case handler look after your case
- We compare lenders across the market, not just one bank
- FCA regulated — firm reference 752191
- Phone, WhatsApp, video or at our Uxbridge office
Your details are kept secure and only used to handle your enquiry.