Your home may be repossessed if you do not keep up repayments on your mortgage.
Today, more of us are self-employed than ever, but getting a mortgage can feel tough. Lenders often stick to strict criteria to check affordability, which doesn’t always suit irregular income.
At Together, we do things differently. We take a common-sense approach, looking at the bigger picture, not just credit scores or rigid loan-to-income ratios. Whether you’re a freelancer, contractor, sole trader, or running a limited company, we’ll help you achieve your property goals.
Still got questions? Visit our handy explainer page for quick answers - from the documents you’ll need to how your affordability is calculated.
Do you want to understand the potential cost of your mortgage or loan?
We can give you an idea of the monthly costs with just a few details like the property value, your deposit amount and how long you need the loan to last.
Find out hereWhen it comes to our self-employed income mortgage criteria, we can accept a range of different types of income, but the ones that are relevant to you may depend on your trading style. The most common income types we accept are:
You’re considered self-employed by most banks and lenders if you own more than 20% of the business that is your main source of income. This includes sole traders, including those who subcontract on an individual or multiple basis, partners who are currently in a Partnership or Limited Liabilities Partnership or shareholders in a Limited company owning 20% or more of any shares issued.
Yes! We accept projected income after a minimum of 18 months’ trading for any mortgages secured against a residential property that you intend to or already live in. For this, we also require an accountants certificate to declare the projected income for the next period.
Many self-employed individuals, such as business owners, contractors and freelancers, wonder if they can get a mortgage or loan.
At Together, the answer is…Yes! We’ll look at applications from self-employed borrowers with just 12 months’ trading history, and you’ll get the same rates as someone with a regular salaried income.
There are a number of documents we may ask for in order to prove your income if you’re self- employed. We may ask for any of the following to assist your application:
If you’re having trouble getting hold of any of the documents required for self-employed mortgages, you can get in touch with our team who will talk you through what to do next.
Get in touchYes. We can review credit profiles without a credit search. We also review applications on a case by case basis, meaning we’ll look at the whole picture and not just the numbers.
The minimum and maximum amounts that you can borrow differ based on the type of borrowing that you need, as well as the LTV (Loan to Value).
The good news is that you’ll get access to the exact same rates and loan sizes as someone with a salaried income.
To find out how much you could borrow, you can use our personalised borrowing calculator:
Borrowing calculatorWhat’s the minimum trading history for a self-employed mortgage with Together? Just 12 months!
If you’re looking for a personal mortgage or loan, you’ll only need to prove that you’ve been trading for at least a year and we’ll consider your application. However, if you’ve switched between being a sole trader and a limited company, we’ll need you to have 12 months’ trading history as the new business entity.
