

What is a self-employed mortgage?
A self-employed mortgage is the same as any other mortgage except that you will have to provide more evidence of a reliable income and the lender must be happy that you can afford the monthly repayments.
You will be viewed as self-employed if you own more than 20% to 25% of a business from which you earn your main income. The better your credit score the more likely you are to be lent the money. The lender will take an average of your net profit over the past two to three years if you are a sole trader or look at your share of your net profit or salary and dividends you pay yourself if you have a limited company.
Frequently asked questions
How many years do you have to be self-employed to get a mortgage?
Most lenders require two or three years of accounts but if you have just become self-employed or have less than 2 years’ accounts, we can still help you to apply for a mortgage. If you have a qualified accountant looking after your finances, they will have all the figures you need.
How many times my salary can I borrow for a self-employed mortgage?
The lender will take an average of your net profit over the past two to three years if you are a sole trader or look at your share of your net profit or salary and dividends you pay yourself if you have a limited company. They may take your lowest earning year as a baseline as to what you can afford to borrow if your earning vary dramatically, or some may take an annualised figure from your day rate.
Do self-employed people have to pay higher mortgage rates?
You should not have to pay a higher interest rate than someone who is employed by a company but as with all mortgages, the higher the value of you deposit the better rates you will be able to access.
Why choose The Mortgage Brain?
We have access to over 12,000 mortgage deals with hundreds of lenders
All our advisers are CeMAP qualified to find the most suitable mortgage for you and your circumstances
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Your dedicated adviser will be with you every step of the way, from the initial consultation to the completion of your mortgage

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How our expert mortgage advice service works
We’ve made it easy for you to get in touch to start talking about your mortgage.
We know it can be a stressful experience so our expert mortgage advisers are a friendly team and will help you to find the best mortgage deal to suit your own personal situation, whether it’s your first mortgage or you are further up the property ladder. Based on your income and deposit, or equity in your current property, we will show you a range of mortgage options. Once you have decided which one you prefer, we will progress your application with the lender until your mortgage is approved.
It’s a simple and stress-free way to find a mortgage!


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