Can You Get a Mortgage If You’re Self-Employed?
Absolutely. Being self-employed doesn’t lock you out of the mortgage market – it just means lenders want a closer look at your income.
Whether you’re a freelancer, contractor, or running your own company, this guide explains how self-employed mortgages work in 2025, what lenders check, and how to give yourself the best shot at approval.
What Do Lenders Look At?
When you’re employed, lenders use payslips to check income. If you’re self-employed, they want a bit more detail:
- Accounts & SA302s – usually 2 years, though some lenders accept 1 year.
- Income trends – stable or growing income is better than fluctuating.
- Business structure – sole trader, limited company, or contractor. Each is assessed differently.
? Tip: Some lenders look at your latest year’s earnings if they’re higher, while others average your last 2–3 years. Picking the right lender matters.
Documents You’ll Likely Need
Be prepared to show:
- SA302s or tax year overviews (from HMRC).
- Full business accounts.
- Accountant’s reference (sometimes required).
- Proof of deposit and bank statements.
Example
Emma, a freelance designer in Belfast, averages £35,000 a year over the past two years. With a 10% deposit, she borrowed £150,000 – enough for a 2-bed apartment in the city.
Because her income was consistent, lenders saw her as a safe bet.
Tips to Improve Your Chances
- Keep your accounts up to date – lenders like clarity.
- Avoid big “one-off” expenses before applying – it makes your income look stronger.
- File your tax returns on time – late returns can be a red flag.
- Use a broker – we know which lenders are self-employed friendly.
Limited Company Directors: Salary vs Dividends
If you pay yourself a small salary and top it up with dividends, some lenders only count your salary + dividends. Others will also consider retained profits in your company – which can significantly increase your borrowing power.
? At Crane Financial, we’ll connect you with the lenders who look at the whole picture.
FAQs
Q: Can I get a mortgage with only one year of trading?
Yes – some lenders accept just 12 months of accounts, though options are more limited.
Q: What if my income fluctuates?
We’ll match you with lenders who either average your income or take the most recent year if it’s higher.
Q: Does being a contractor count as self-employed?
Yes, but some lenders treat contractors differently. If you’ve got a long-term contract, it can actually work in your favour.
Ready to Secure Your Mortgage?
Being self-employed shouldn’t hold you back. We’ll find the lenders who understand your income, help you get the right deal, and handle the paperwork from start to finish.
? Book your free consultation today and let’s turn your hard work into home ownership.