Most lenders will average a self employed applicant’s earnings over 2 years but there are those that will go off your latest year if your profit is increasing. The most common way for a company director’s income to be assessed is salary plus dividends but it is also possible to go off their share of their firm’s net profit.
Get Started
You will not be asked to put down a higher deposit than an employed applicant and you will be classed as self employed by most lenders if you own >20-25% of your business. If you are a sole trader, you will be assessed using your net profits.
Apply NowHow many years do you have to be self employed to get a mortgage?
You will typically need to have been self employed for at least two years, as most lenders will ask to see evidence of that time frame. In some cases, there may be lenders who only need one year.
Do self employed people have to pay higher rates for their mortgage?
Self employed applicants have access to the same mortgage rates as employed applicants. The only aspect of the application that changes is the way that your income is assessed.
What qualifies as self employed?
If you own 20-25% or more of a business, a lender will typically class you as self employed.
Why is it hard for self employed applicants to get a mortgage?
There are no special requirements in place or extra barriers for self employed applicants. The reason that many self employed mortgage applicants may find the process difficult, is usually down to income. A lender will only count taxable income, and they will need sufficient proof that your income is reliable.
How do I prove my income when self employed?
To prove your income as a self employed mortgage applicant, you need to give the lender either full accounts or SA302 year-end tax calculations (often presented with the corresponding tax year overview) from HM Revenue & Customs. Some lenders will accept a certificate from your accountant confirming income if they are suitably qualified. In some cases, lenders will request to see both of these together. Regarding SA302s, you will commonly find that the lender will need at least 2, maybe 3 years' worth of these. Some lenders will also look at retained profits within a business and take this into account when assessing affordability.
We're flexible around your work and family, we'll be there when you need us.
No upfront fees payable, we are paid on results only.
You'll always know who you are dealing with.
No vested interests, do you want your builder or estate agent knowing your maximum lending when you're trying to negotiate your price, you'll receive a mortgage tailored to your needs.
Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.
We shop around for the cheapest deal for you, saving you time and money.
There isn't a situation we haven't come across before, we fully understand your needs.
We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.
4.98 Rating165 Reviews
Helen was very helpful and arranged us an appointment the same day with the mortgage advisor.
Mizna helped me out so amazingly for my life insurance. She rang multiple times to get everything right and even attempt to entertain my little one when he was getting restless on the phone. Could not recommend her enough.
Mizna has been fantastic throughout the process. Professional, understanding, helpful and reliable. Our previous life insurance policies had exclusions or price increases for certain hobbies and health conditions. Mizna managed to find us a better...
After being told by another broker that there were no mortgage options for me due to a patchy credit history I contacted UK Moneyman. I'm over the moon with the service from Matt, Molly, Megan and everyone else who helped me and my partner...
This company has been amazing in sorting our mortgage. Got the job done quickly and efficiently.
UK moneyman have been absolutely amazing helping me and my partner obtain a mortgage. We are both young and only had contracts of employment, but this was not an issue for them at all. Jason, Chloe and Dan have been so helpful, and frequently in...
Charlie was our broker can’t fault his work in any way. Very informative and really supportive. Thank you for everything guys 💕
Getting my first mortgage has been made super easy and stress-free thanks to Tom & Chloe. Can’t thank you enough! They’ve ensured everything is in place and have made it a really good experience. Tom and Chloe are so friendly; made...
Minza has been most helpful in sorting out our life cover and get the best deal. What a lovely lady to deal with. Very chatty and friendly. Thank you Minza!
Where do I start! Mizna rang me for a review and at first I dismissed it…. So glad I let Mizna review my existing policies, our medical questions weren’t documented probably, I didn’t have cover that I thought I had. Mizna has...
You could say I’m getting on a bit and I was worried that I wouldn’t be able to get a shortish term mortgage then I saw an advert for ukmoneyman and it couldn’t have been easier from start to finish. The whole process must have...
UK Moneyman has been a fantastic mortgage broker from the start to the finish of the process. They found us an excellent mortgage offer swiftly and efficiently- even going the extra mile by working with us between Christmas and New Year. As first...
Having had a very bad experience with the UK's supposed leading mortgage broker, our confidence had taken a huge knock. We came across UK Moneyman during a search for an alternative. And what a find! From the first initial call to being...
Excellent service throughout. I was kept up to date through the process and the mortgage illustrations we provided with were clear an concise. Definitely recommend!!
Mizna helped arrange life cover for me and my partner. She was very knowledge and professional taking the time to explore our individual needs. This gave us confidence that we took out the best policy to suit our circumstances. She helped guide...
Cannot praise the team enough for all their hard work and professionalism. Mizna Coates was brilliant all the way through the process and would highly recommend UK Moneyman to all friends and family going forward.
Very honest and helpful
Mizna Coates has done a fantastic and more importantly, unbiased and diligent job in advising us on a number of Insurance products ranging from life and critical illness to house insurance. Mizna is engaging, open and honest in her approach and the...
Dale was lovely and put me at ease for my initial call Thank you Dale
Great service from start to finish. Jason and Dan kept us informed throughout and really took the pressure off us.
Read our 165 Reviews
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
