It is widely believed that self-employed individuals find it hard to get a mortgage. While the options do vary, there are a number of competitive solutions available.

At TMS we offer advice and have access to our panel of lenders who can help in a number of situations which may be faced by somebody who is self employed.

These include:

  • Lending against your most recent year’s income, rather than an average of the last two or three years – often a situation where the business has just become established and the latest year has increased
  • Lending against your company net profit – rather than just salary and dividends to reach a potentially more positive lending amount
  • Consideration of your daily rate if you’re a contractor.

Lenders will need to see specific documentation if you’re self-employed depending on your circumstances. One of our advisors can help prepare the required documents and help you provide the lender with the evidence they require.

What evidence do I need to provide the lender?

Most lenders will require your SA302 tax calculation and supporting tax overview. They will also usually require 6 months business & personal bank statements.

Ready to take the next step? Let's get there, together.