How to Get a Mortgage if You Are Self-Employed

Securing a mortgageYour Complete Guide

More and more people are working on a self-employed basis. From older trades like building to newer careers such as content creators, people are taking control of how they earn a living like never before. Can this go against you if you want to secure a mortgage, though? Many lenders have adapted and are now more open to self-employed borrowers, but you’ll probably still be subjected to stricter affordability checks and need to provide a lot more information than a salaried worker.

Here’s what you can expect, along with how professional advice about mortgages from an experienced broker can help.

What Lenders Look For

Although more lenders than ever are now catering to self-employed borrowers, they are still pretty selective. Here is what you will need to have ready when you apply:

Proof of Income

Unlike salaried employees who can just provide their payslips, self-employed applicants must prove their income using:

SA302 tax returns from HMRC
Tax year overviews
Bank statements showing consistent income

If applicable, you might need to provide your company income, too. Lenders will generally need an overview of your earnings over the past two to three years, so start getting everything in order now!

Deposit Size

Self-employed applicants typically need at least a 10% deposit, although a larger deposit, somewhere around the 15-20% mark, can expand your options and see you pay less interest. A higher deposit reduces the lender’s risk, so saving as much as possible for this will outweigh any doubts they have about your self-employed status.

Credit History

A good credit score is crucial when applying for a mortgage, especially if you are self-employed. Lenders will check your credit history for:

Missed or late payments
High levels of existing debt
County Court Judgements (CCJs) or bankruptcies

If you have bad credit, some lenders may still consider your application, but you may need a larger deposit and might have to accept a mortgage deal that has higher interest rates. Remember, though, paying off your mortgage can improve your credit score over time!

Top Tips

To improve your chances of getting a mortgage, you should:

Ensure your tax returns and accounts are up to date and correctly filed.
Keep your outgoings low and minimise unnecessary expenses.
Work with an accountant to help present your income in the best possible light.

How a Mortgage Broker Can Help

Securing a mortgage as a self-employed individual can be more complex, which is why working with a trusted mortgage broker is a great idea! They’ll know which lenders are more receptive to applications from buyers like you, so you won’t waste time and get rejected. A lot of applications in a short space of time can impact your credit score, making this really important.

Mortgage brokers understand what lenders require and can help you to prepare all of the documents you need, and will make sure that your application is completed correctly. They will also be able to liaise with the lender on your behalf. So, they’ll do a lot of the hard work for you!

What Next?

While you might face more scrutiny when applying for a mortgage, it’s possible to get a great deal! So why not get in touch with a trusted broker today?

Grace Willson

Hi there! I’m Grace Willson, the voice behind Giving Yourself the Edge. With six years of experience exploring the worlds of business, finance, personal care, automotive, entertainment, and property, I’ve learned one thing — life’s better when you’ve got an edge. I’m here to break down complex ideas into simple, practical advice that anyone can use. Whether it’s managing your money, upgrading your car, or sprucing up your personal style, I’ve got you covered. Think of me as your friendly guide, blending wit with wisdom to help you thrive. When I’m not writing, you’ll find me chasing new adventures, binge-watching a good show, or dreaming up ways to make life a little easier — and a lot more fun.