A 5-star service you can count on
With 1,000’s of 5 star reviews on TrustPilot, Mortgage Matters has built a strong reputation for helping self employed borrowers present their finances in the best possible way. Whether you are buying your first home, moving, remortgaging or investing, you will receive tailored advice that focuses on your goals, long term stability and overall peace of mind.
What Lenders Typically Look For
Every lender has their own criteria, but most assess affordability using a similar set of principles.
- Your Trading History - Two years of accounts or SA302s are ideal, though some lenders may consider one year of trading if the figures are strong.
- Income Stability - Lenders often average the last two years of income unless your most recent year is lower. We help you present your figures clearly so lenders can see the full picture.
- Business Structure - Sole traders, contractors and company directors are assessed differently. We explain how elements like salary, dividends or retained profit affect affordability.
- Existing Commitments - Personal credit commitments, business finance and regular expenses all play a role in how lenders view your application. We guide you through what matters most.
- Your Role and Working Pattern - Contractors may be assessed on a day rate. Directors may be evaluated based on shareholding and how they draw income. We simplify these calculations so you understand what lenders see.
Local Knowledge That Supports Better Decisions
Essex is a diverse county, offering everything from busy commuter towns to coastal areas and quieter market towns. Chelmsford and Brentwood attract buyers who want strong transport links. Colchester and Braintree offer a mix of older character homes and newer developments. Coastal areas like Southend, Leigh on Sea and nearby towns appeal to those wanting a balance of lifestyle and value.
Prices, demand and deposit expectations vary across the region, and lenders sometimes have different views depending on property type and location. Our advisors help you understand:
- What size deposit is realistic in your chosen areas
- How lenders view different parts of Essex, from growing commuter towns to coastal communities
- Which mortgage types work best for your current and future income
- Whether remortgaging could reduce your payments or provide greater stability
- How to plan if your income fluctuates throughout the year
Our guidance is based on in depth mortgage knowledge shaped by real experience supporting buyers across Essex.
FAQs for Self-Employed Mortgages
Most lenders require two years of self-employed trading history as a minimum. This provides them with enough evidence to assess your income and business stability. However, some specialist lenders may accept applicants with less than two years’ accounts, especially if you have a strong credit history and can demonstrate consistent income or have previously worked in the same industry.
Deposit requirements for self-employed borrowers generally start at 15-25% of the property’s value. A larger deposit may increase your chances of approval and can also help secure more competitive interest rates. Lenders view larger deposits as lower risk, especially for self-employed applicants whose income may fluctuate.
Whilst most lenders prefer three years of tax returns, some are more flexible and may consider applications with two years or even alternative proof of income, such as accountant-prepared accounts or bank statements. Mortgage Matters can help you identify lenders who offer more flexible criteria and assist you in gathering the right documentation to strengthen your application.
Getting a mortgage can be more challenging when you work for yourself, as lenders often view self-employed income as less predictable compared to salaried income. This means they require more detailed proof of your earnings and financial stability, such as multiple years of accounts and tax returns. However, with accurate documentation and professional guidance, many self-employed borrowers successfully secure mortgages.
The amount you can borrow depends on your income, credit profile, existing financial commitments, and the lender’s criteria. Lenders usually calculate affordability based on an average of your income over the last two to three years. Working with a specialist broker can help you identify lenders willing to consider your unique financial situation.
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