Self-Employed Mortgages
Yes, you can get a mortgage if you're self-employed. The important difference is how lenders assess your income.
Whether you're a sole trader, limited company director, partner or contractor, different lenders can reach very different affordability figures from the same accounts. We help work out which approach is likely to suit the way you earn.
Last reviewed: 13 September 2026 · Reviewed by Alfred Quinn, Director, Greywood Financial
How do lenders calculate self-employed income?
There isn't one calculation used by every lender. The income they are prepared to use depends on how you trade, your previous figures, your current position and their own lending criteria.
Two lenders can look at exactly the same applicant and reach different affordability figures simply because they assess the income differently.
Sole traders are normally assessed using business profit and tax information. Limited company directors are commonly assessed using salary and dividends, although some lenders can take a broader view of company profitability. That difference can materially affect affordability.
Mortgages for limited company directors
Yes, company directors can get mortgages. The important point is which part of the company's income a lender is prepared to use.
Many lenders start with salary and dividends. That does not always give the full picture where a profitable company deliberately leaves money inside the business.
Some lenders can consider a wider measure of company profitability where the applicant, shareholding and business meet their criteria.
This can be particularly useful for directors who take a modest salary and dividend despite the company making significantly more profit.
Illustrative example only. Actual affordability depends on your circumstances and the lender's criteria.
Can I get a mortgage with one year's accounts?
Yes. Some lenders can consider an application with only one completed year of self-employed trading.
They may also want to understand what you did before becoming self-employed, whether you stayed in the same industry, how the business is currently performing and the strength of the rest of the application.
Someone who has worked in an industry for several years before starting their own business may therefore be viewed differently from someone entering a completely new field.
Can lenders use my latest year's income?
Sometimes. Some lenders can place more weight on the most recent year where income has increased and the current level appears sustainable.
A lender using an average can therefore arrive at a very different affordability figure from one that is able to use the latest year.
Figures shown for illustration only. Whether the latest year can be used depends on the lender and the sustainability of the income.
What if your income has changed?
Self-employed income rarely stays exactly the same each year. Why it has changed can be just as important as the figure itself.
Income has increased
Not every lender will automatically use a historic average. Some may be able to place more weight on recent figures where the increase can be evidenced and appears sustainable.
Income has fallen
A reduction does not automatically mean an application will be declined. A lender may want to understand whether the fall is temporary, caused by reinvestment, reduced working hours, a one-off expense or a more permanent change in the business.
You may have a mixture of PAYE income, salary and dividends, sole-trader income, rental income, consultancy work, contract income, bonus or commission. Lenders can take different approaches to combining them.
How much can I borrow if I'm self-employed?
There isn't one borrowing multiple that applies to every self-employed applicant.
Before asking how many times your income a lender may offer, it is often more important to establish what income that lender is actually prepared to use.
- Usable income
- Existing commitments
- Dependants
- Mortgage term
- Age
- Deposit / LTV
- Credit profile
- Lender affordability model
Get a clearer view using your actual figures
A generic income multiple cannot tell you whether a lender might use an average, your latest year, salary and dividends, company profit or another assessment method.
The most useful starting point is to establish what income different lenders may actually be prepared to use. That can vary significantly where income has increased, profits are retained in a limited company or trading history is relatively short.
Your deposit, existing commitments, mortgage term and wider circumstances will then affect the amount you may be able to borrow.
What documents do I need for a self-employed mortgage?
The exact documents depend on how you trade and the lender considering your application. Having them ready early can avoid unnecessary delays.
Sole traders
- SA302 / tax calculations
- Tax Year Overviews
- Business bank statements where required
- Evidence of ongoing trading where required
Limited company directors
- Company accounts
- Salary and dividend information
- Tax calculations / Tax Year Overviews where required
- Accountant confirmation where required
Partnerships
- Partnership accounts
- Individual tax calculations
- Tax Year Overviews
- Evidence of your share of partnership income
Contractors
- Current contract
- Previous contract history where required
- Bank statements or payslips depending on structure
- Accounts where assessed through a limited company
How to get your SA302 and Tax Year Overview
For many sole trader and partnership mortgage applications, lenders will ask for an SA302 together with the corresponding Tax Year Overview. Both can usually be obtained through your HMRC online account.
What is an SA302?
An SA302 is a tax calculation showing the income declared through your Self Assessment return and the tax calculation for that year. Mortgage lenders commonly use it as evidence of self-employed income.
What is a Tax Year Overview?
A Tax Year Overview is an HMRC summary showing the tax due and payments recorded for that tax year. Lenders commonly request it alongside the SA302 so the two records can be checked together.
Which years should I download?
This depends on the lender. Some applications may only require the latest completed year, while others may require two or more years. We can confirm what is likely to be needed before an application is submitted.
Downloading your documents from HMRC
- Sign in to your HMRC online account .
- Open the Self Assessment section of your account.
- Select View your tax return for the relevant tax year.
- Select View your calculation to access your tax calculation / SA302.
- Select Print full calculation and save the document as a PDF.
- Return to your Self Assessment account and download the Tax Year Overview for the same year.
- Repeat the process for any additional years requested by your adviser or mortgage lender.
Not sure what to send?
If you already have your accounts, SA302s or Tax Year Overviews, send us what you have. We can check the documents and let you know whether anything else is likely to be needed before an application is submitted.
Ask which documents you need →How we help
We start with your figures, not a lender. Once we understand how you earn and what evidence is available, we can identify lenders whose approach is more likely to fit your circumstances.
We review how you trade, your historic figures and your current position.
We identify lenders whose assessment may better fit the way you earn.
We establish the likely evidence required before the application is made.
We support the application through underwriting and towards completion.
Director, Greywood Financial (FCA: 932346) · Last reviewed 13 September 2026
Self-employed mortgage questions
Answers to some of the questions we are regularly asked.
Who are the best mortgage brokers for self-employed applicants in the UK?
There is no official ranking of self-employed mortgage brokers. What matters more is whether a broker regularly deals with sole traders, company directors and contractors and understands how different lenders assess their income. We explain which lenders we think may fit your circumstances and why.
Are mortgage rates higher if you're self-employed?
Being self-employed does not automatically mean paying a higher mortgage rate. Where you meet a lender's normal criteria, you may have access to the same products available to other eligible applicants. More specialist circumstances can reduce the range of lenders or products available.
Do I need two or three years of accounts?
Not necessarily. Some lenders can consider applicants with only one completed year of trading, while other applications may benefit from a longer track record.
Can lenders use retained profits for mortgage affordability?
Some lenders can take a wider view of company profitability for eligible directors or shareholders rather than relying only on salary and dividends. This is lender-specific and does not mean all money retained in the company will automatically be treated as personal income.
Does changing from sole trader to limited company affect a mortgage?
It can change how the lender assesses the income, but it does not necessarily mean your previous trading history will be ignored. Some lenders can recognise continuity where the underlying trade or business remains the same.
Do lenders use business turnover?
Turnover can provide context, but it is not normally the same as the income used for affordability. The lender will usually focus on a relevant measure of profit or personal income depending on how the business is structured.
Can I use my SA302 to prove my income for a mortgage?
Yes. An SA302 tax calculation together with a matching Tax Year Overview is commonly used by sole traders and partners to evidence income. Both can usually be downloaded from your HMRC online account.
Will lenders accept an SA302 without an accountant's reference?
Some lenders may accept SA302s and Tax Year Overviews without a separate accountant's reference, particularly in straightforward cases. Others may request additional confirmation.
Can I get a mortgage with a 50% deposit if I'm self-employed?
A larger deposit reduces the loan-to-value and may widen the range of lenders and products available. Your income still needs to meet the lender's affordability requirements.
Can I remortgage if I'm self-employed?
Yes. Self-employed applicants can remortgage, although a new lender will normally assess your current income and affordability. A product transfer with your existing lender may follow a different process.
Can self-employed applicants get a buy-to-let mortgage?
Yes. Buy-to-let affordability is generally assessed with significant reference to the expected rental income, although personal income requirements vary between lenders and circumstances.
Can I get a mortgage with self-employed income and bad credit?
It can still be possible. The available options depend on the type, amount and age of the credit issue alongside your income, deposit and wider circumstances.
Can contractors be assessed differently?
Yes. Depending on the lender and contract structure, some contractors may be assessed using accounts while others may be assessed using contract income or a day-rate calculation.
Ready to talk through your figures?
Tell us how your income is structured and we'll help you understand how different lenders may look at your position.