Can I get a mortgage if I’m self-employed?

It’s a question we get asked a lot here at BulbFin:

“Can I get a mortgage if I’m self-employed?”


The answer is a definitive YES you can.

It’s certainly true that lenders ask for more information from a self-employed person.

And while it’s a faff to get it all together, it’s well worth the effort.

Here’s a few of our most frequently asked mortgage questions from the self-employed, answered:

1. What advice do you have for self-employed first time buyers?

In general, you need to prove you will be able to afford your monthly mortgage repayments. Here are a few things which will help:

– Save as much as you can, at minimum 10% of your desired property value

– Check and improve your credit rating

– The longer your trading history, the better

– Use an accountant to prepare your accounts, lenders prefer this

– Get professional mortgage advice, Maxim will fight your corner (reply to this email to get started)

2. How much will I be able to borrow?


Lenders will generally lend a self-employed person 4 to 5 times the average of their last two years’ of accounts.

For example, if you earnt £20,000 in 2019 and £30,000 in 2020, you would be able to borrow £25,000 multiplied by a figure between 4 and 5.

Please note, income must be proven via completed tax returns.

3. Do they count dividends?

Yes. If you pay yourself in salary and dividends lenders take this into account.

4. What documentation will the lender ask for?

Each lender is different, but in general you will need to provide:

  • Two or more years certified accounts
  • SA302 forms or a tax year overview (from HMRC) for the past two or three years
  • Contractors need to provide evidence of upcoming contracts
  • Company directors need to provide evidence of dividend payments or retained profits

Remember: when it comes to self-employed mortgage applicants, lenders will prefer accounts prepared by a qualified chartered accountant.

For Self-employed Mortgage Help Contact Us Today

If you are self-employed or know someone self-employed who is looking to get onto the housing ladder or purchase a new home feel free to put them in touch for friendly and expert mortgage advice.