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 Now
How 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.
4.97 Rating187 Reviews
Excellent service from Matt & Molly. Throughly recommend UK money man
All staff very helpful ..patient and knowledgeable. I was always spoken to professionally and courteously. Wayne gave me sound advice and helped me sort out issues in an area I am new too. Very grateful for help and support given.
Excellent professional service from start to finish. Staff are extremely friendly, professional and kept us informed every step of the way, making what can be an extremely stressful process quick, efficient and hassle free. This is the second time...
House-buying is a very stressful business but obtaining a later-life mortgage with UK Moneyman was a pleasure. The staff were extremely professional, knowledgeable, efficient and polite. They obtained a very good deal for us at the speed of light!...
Very Easy to talk to and Very Helpful.
From the start all the staff I have had the pleasure of dealing with were kind, knowledgeable and helpful, and accommodating to my variable shift patterns. Thank you Jason and Chloe for taking me through it all step by step.
Third time using Moneyman. The service has been excellent every time.
UK Moneyman have helped to co-ordinate both my initial mortgage as well as the remortgaging of my current property. The team members from initial deal scoping across the markey to seeing the process through to completion have all been extremly...
Excellent service provided, took out a new life insurance policy easy and stress free 5* service as always
Very polite, help and friendly, listened to what I had to say .
Really helpful and quick to get back
Couldn't have wished for better service. So helpful and supportive; Moneyman completely took the hassle out of everything. Thanks so much.
Being a first time buyer and not really knowing any process or what I need to do Mizna Coates was incredible at helping me sort my life insurance out. She was determined and diligent at trying to source a provider to give me critical illness...
Moneyman are brilliant. Don't know what I would have done without them. They have sorted my mortgage, life Insurance and home insurance. I had know idea were to start. Mizna is a total asset to the company. I feel like I have made a new...
Very helpful thank you
Excellent service from Chris. Told him what we wanted & came back with all options. Didn’t push any extras on us but gave us options. Quick service & now in our new home. Thank you will definitely recommend.
Brilliant service from start to finish. Great communication and always go out their way to help. Mizna looked after us this time for our life insurance and critical illness cover. It wasn’t straight forward to get us cover but she did...
Happy with the fast communication and help from Aaron
First rate service mizna kept me informed every step of the way of where we were at and was clear of what I needed to do. Would recommend to friends and family.
UK Moneyman (Charlie and Chloe) were fantastic during the process of applying for a Mortgage. I sought their help for a mortgage that was outside of what the bank was currently offering and after a few negotiations, they delivered the product that I...