Self-Employed Mortgages

If you're self-employed & seeking a mortgage, you might have already discovered that finding clear, straightforward advice can be tricky. At Mortgage & More, we make self-employed mortgages easy to understand & approachable. We know that while there isn't a unique self-employed mortgage product, the way your income is assessed by lenders can make the process seem confusing. That's where we step in, offering independent, impartial guidance designed for your circumstances.

Whether you're a contractor, freelancer, or run your own business, we demystify the mortgage journey & provide reliable support every step of the way. If you're searching for the best mortgages for self-employed people, contractors, or those needing a self-employed mortgage without accounts or with bad credit, our experienced team in Maidstone is ready to help.

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How Self-Employed Applicants Are Assessed

Navigating the self-employed mortgage process with Mortgage & More means you'll always understand what's needed. Lenders evaluate self-employed applicants differently depending on your business structure:

  • Sole Traders: Lenders look at your self-assessment income via HMRC's SA302 documents. It's this paperwork that forms the foundation for their income calculations.
  • Partnerships: Your portion of the partnership's profits, as established in official accounts, is used to assess your eligibility.
  • Limited Company Directors: Lenders usually consider your salary & dividend payments, but retained profits may not count towards your income, something many business owners forget.

If you're thinking of changing from sole trader to limited company (or vice versa), it's best to wait until after your mortgage completes. Structure changes mid-application can complicate the process. For the most reliable independent mortgage advice, our experienced brokers are always available to guide you.

How Lenders Assess Day Rates & Improving Your Chances

Assessing Day Rates

For contractors or freelancers, mortgage lenders often use your day rate to calculate annual income. Typically, they multiply your daily fee by your weekly days worked & then extend across 46 to 48 weeks. Lenders will usually expect to see ongoing or previous contracts as proof of income security.

Improving Your Chances

Use an Accountant

Lenders favour professionally prepared accounts. Using a certified or chartered accountant not only gives credibility but sometimes is a strict requirement.

Gather Your Documentation

Most ask for three years of SA302 forms or tax calculations. Stay organised & up to date for the best results.

Save a Bigger Deposit

A deposit of at least 10% improves your acceptance odds for self-employed mortgages & unlocks better rates.

Check Your Finances

Make sure your credit score is healthy, debts are repaid, & your spending is in check. A tidy financial record increases your appeal to lenders, even if you're seeking a self-employed mortgage with bad credit.

We offer a wide range of remortgages to suit your circumstances. For more in-depth mortgage help for self-employed individuals, visit our mortgage guides or contact us for a friendly, personalised approach.

Enquire today

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Why Choose Mortgage & More?

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Expert Advice

Our experienced advisors offer qualified, impartial guidance, ensuring you receive mortgage advice tailored to your unique self-employed status. We're fully accredited & authorised by the Financial Conduct Authority, so you can trust you're in reliable hands.

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Highly Approachable Team

We work hard to create a comfortable, welcoming environment. We make mortgages less intimidating & more accessible by being friendly, responsive, & ready to answer all your questions.

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Jargon Free

At Mortgage & More, we believe in clear & simple explanations. Our comprehensive guide to decoding jargon ensures you always understand your choices, empowering you to make informed decisions about your future.

 

 

 

Self-Employed Mortgages: Frequently Asked Questions

Can I get a mortgage if I’m self-employed?

Yes, self-employed individuals can get mortgages. Lenders will assess your income using documents such as SA302s, accounts, or contracts.

What documents do I need as a self-employed mortgage applicant?

You'll need 2-3 years of SA302 forms, professionally prepared accounts, and proof of ongoing or past contracts if you are a contractor or freelancer.

Can I get a mortgage with irregular income or more than one job?

Yes, lenders will review your average income and may factor in multiple income sources. Clear records and accounts can strengthen your application.

Are there mortgages for contractors and freelancers?

Yes, we offer mortgage advice for contractors and freelancers based on day rates and contract history. Contact us for specialist support.

How can I improve my chances of getting a self-employed mortgage?

Use a certified accountant, keep three years of up-to-date SA302s, save a larger deposit and maintain a strong credit score.

Do you offer independent and impartial self-employed mortgage advice?

Yes, Mortgage & More provides independent, qualified, and jargon-free advice tailored to self-employed clients.

 

Ready to Secure Your Future?

Take the stress out of your mortgage search. Speak to our reliable, independent mortgage brokers in Kent for specialist help with self-employed mortgages. Email us at info@mortgageandmore.co.uk, call us on 01634 235132, or contact us here to discover how Mortgage & More can support your journey.

 


 

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOANS SECURED AGAINST IT. 
THERE MAY BE A FEE FOR MORTGAGE ADVICE, THE PRECISE AMOUNT WILL DEPEND ON YOUR CIRCUMSTANCES, OUR TYPICAL FEE IS £395 

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Mortgage and More is Authorised and Regulated by the Financial Conduct Authority. The Financial Service Register Number is 651274

The Financial Conduct Authority does not regulate some forms of Buy to Lets.

There may be a fee for mortgage advice. The precise amount will depend on your circumstances, but will be agreed with you before proceeding.

Mortgage and More is a Limited Company. Registered Address: Mortgage and More; 9 Balas Drive, Siitingbourne, Kent. ME10 5AS Registered in England and Wales under number 06437752

We always aim to provide a high-quality service to our customers. However, if you encounter any problems, in the first instance please write to the registered address above, email or call Mortgage and More outlining your complaint, if we are unable to resolve this, you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service (www.http://www.financial-ombudsman.org.uk/consumer/complaints.htm).

The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Some calls maybe recorded for training and monitoring purposes.