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Getting a mortgage or a loan when self-employed

Self-employed mortgages and loans.

Working for yourself shouldn't be a barrier when you need a mortgage or a secured loan.
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Realise your property ambitions when you work for yourself with a self-employed mortgage or loan

Millions of us work for ourselves these days.

But getting a mortgage when you're self-employed can be tricky, often because mortgage lenders have to comply with strict rules to ensure you can afford your loan. One of the biggest hurdles can be proving what you’ll earn each month.

Fortunately, whether you think of yourself as a sole trader, freelancer, side-hustler or majority shareholder, our common-sense approach means we'll consider your application on its merits – looking at the whole picture, not just your credit score or loan-to-income ratio.

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Mortgage Repayment Calculator

Do you want to quickly understand the potential cost of your mortgage?

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.

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Common questions about self-employed mortgages and loans

When am I considered self-employed?

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.

Can you get a mortgage if you are self-employed?

Yes, it is very possible to get a mortgage if you’re self-employed. At Together, self-employed borrowers with at least 12 months trading history will be considered and we can accept an accountant’s certificate, SA302s or tax calculations submitted to HMRC as proof of income.

We will also consider self-employed mortgage applicants who have less-than-perfect credit history or someone wanting to borrow against an unusual property type.

How long do I need to have been self-employed to get a mortgage?

If you’re self-employed you’ll need to have been trading for at least 12 months to be considered for a mortgage with Together.

Can you get a loan if you are self-employed?

Yes, we will 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 income. We’ll look at your last 2 years SA302’s, if you are unable to provide this we will require a full accountant certificate.

What documents will I need for a mortgage or loan if I’m self-employed?

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:

  • An accountant’s certificate
  • SA302 form
  • Tax year overview from HMRC
  • Business bank statements

If you’re having trouble getting hold of any of these documents, you can get in touch with our team who will talk you through what to do next.

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Your home may be repossessed if you do not keep up repayments on your mortgage. All mortgages are subject to our terms and conditions.
Your home may be repossessed if you do not keep up repayments on your mortgage.

You are likely to repay more overall if you select a longer-term mortgage to reduce your monthly payments.
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