Mellow FinancialSelf-employed mortgages.
Self-employed? You still have a good chance of getting a mortgage. Lenders just ask for different documents, and some read your income far better than others.
What lenders look for
Less than two years' accounts? Don't panic.
Lenders typically want to see two years' accounts, a good deposit, a record of regular income and a healthy credit history.
If you have less than two years' accounts, many lenders will still consider you. We have a lot of experience securing mortgages for self-employed people, so we know which lenders are likely to lend in your situation.
We take the time to understand your business and your finances, so your application has the best chance. Then we guide you through the whole process until you've moved in.
Questions
Frequently asked.
Can self-employed people get a mortgage?
Yes. The application is more detailed, as lenders want proof of stable income and a track record in your business.
What do lenders look for?
Usually two to three years of financial records such as tax calculations, bank statements and accounts, a steady income over time, and a good credit history.
How do I prove my income?
Through your tax calculations and tax year overviews, bank statements, and accounts prepared by an accountant. Some lenders prefer accounts certified by a qualified accountant.
Do I need a bigger deposit?
Not necessarily. Some lenders may ask for more, depending on your profile and their policy.
Can I get a mortgage with less than two years' trading?
Yes, though it's harder. Some lenders will consider you after one year if you can show steady income. A larger deposit and good credit help.
How can I improve my chances?
Keep your records up to date, look after your credit score, and use an adviser who knows which lenders suit self-employed applicants.
Are rates higher for self-employed borrowers?
Sometimes slightly, depending on your profile and the lender. Comparing across the market is the best way to keep the cost down.