Self-Employed Mortgages

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Fed up with swiping through property portals? Tell us what you’re looking for and using our network of agents, we’ll help you find it. We can even handle the negotiations. We’re all about saving you money. 

What Documents Do I Need for a Self-Employed Mortgage?

Mortgage applications for self-employed borrowers normally require more detailed documentation than those for employees. Lenders want to see clear evidence of your income and financial stability over time. The most common documents you’ll need to provide include:

• Your last two to three years of self-assessment tax returns
• SA302 tax calculation forms issued by HMRC
• Business accounts prepared by a qualified accountant
• Bank statements for both business and personal accounts
• Proof of ongoing contracts or invoices (especially if income is irregular or you’ve recently become self-employed)

Having these documents prepared and organised can significantly improve the strength of your mortgage application and ensure a smoother approval process. At Mortgage Matters, we guide you through gathering all necessary paperwork to present your finances in the best possible way.
 

The Mortgage Process Whilst Self-Employed

The mortgage process for self-employed applicants broadly follows the same stages as for employed borrowers, but with extra focus on income verification and affordability. Firstly, you’ll have an initial assessment where your finances and income potential are reviewed. This helps determine which lenders are likely to offer you the best deals. Next, you’ll obtain an Agreement in Principle (AIP), which gives you a clear idea of how much you can borrow based on the information provided so far.

Once you find a property that fits your budget and meets lender requirements, you’ll submit a full mortgage application. The lender will then carry out a property valuation and conduct a thorough affordability assessment, factoring in your self-employed income alongside any other financial commitments.

The process can be more document-heavy due to your self-employed status, making it slower than a standard mortgage application. Our team will support you every step of the way, ensuring all necessary documents are in order, liaising with lenders on your behalf, and addressing any queries that may arise.