SELF-EMPLOYED MORTGAGES
If you’re self-employed and looking for a mortgage, you might have already discovered that getting approved can be more complex than for someone with a traditional job. At Watts Mortgage and Wealth Management Ltd, we specialise in finding the right mortgage for self-employed individuals.
As independent whole-of-market mortgage brokers, we have access to lenders that understand self-employment income, giving you the best chance of approval at competitive rates.
There isn’t a separate type of mortgage for self-employed individuals, the process just requires a different approach to prove your income. Whether you’re a sole trader, limited company director, contractor or freelancer, you’ll need to provide solid financial evidence to show that you can afford the repayments.
You’ll usually be classed as self-employed if you own 20–25% or more of a business and your income isn’t paid via PAYE. This includes:
- sole traders
- business partners
- limited company directors
- freelancers and contractors.
In order to apply for a self-employed mortgage, you will need to provide a number of specific documents relating to your most recent and the preceding tax year.
If you are a sole trader or in a partnership, you will be required to provide tax calculations and tax year overview forms. These can be provided by your accountant or requested from HMRC.
If you are a Limited Company, you will be required to provide tax calculations and overview forms in addition to your company accounts, ideally for three years.
If you are applying for a mortgage as a Limited Company Director, you will be required to provide either your salary and dividends or evidence of your net profit plus salary. In this case, our expert team of advisers will undertake a full review of all documents to assess which options are best for you to achieve the most appropriate mortgage.
To improve your chances of having your application for a self-employed mortgage accepted, why not contact one of our expert advisers who will take the time to understand your business and find the most appropriate solution for you.
- Whole-of-market broker: Independent from any single lender, giving you more options.
- Wider access: More deals than most banks or building societies can offer directly.
- Tailored advice: Mortgage recommendations based on your unique needs.
- Exclusive rates: Access to deals not available on the high street.
- Transparent service: Clear fees and honest, expert guidance at every step.
- Local and nationwide reach: In-depth knowledge whether you’re moving nearby or further afield.
- End-to-end support: Help with your application from start to finish.
- Trusted experience: Multi-award-winning, family-run business with over 35 years of expertise.
- Get your accounts in order
Work with a qualified accountant to prepare clear, up-to-date accounts that accurately reflect your earnings. - Improve your credit score
Pay down debts, stay within credit limits, and check your credit report for errors before applying. - Save a larger deposit
A deposit of 10%–20% can increase your chances of approval and access to better rates. - Use a specialist mortgage broker
At Watts Mortgage and Wealth Management Ltd, we understand the self-employed market and can find lenders who match your profile.
To improve your chances of having your application for a self employed mortgage accepted, speak to one of our experienced mortgage advisers. We take the time to understand your business and find the most appropriate solution for you. We offer a free initial consultation and access to the whole of the mortgage market. Call 01270 620555 or fill in the enquiry form. We’d be delighted to assist you.
MAKE AN ENQUIRY
If you’re looking for mortgage advice, contact Watts IFA today. Our expert team can help you secure the best mortgage based on your contracting status and financial situation.
Shannon Cliffe
Senior Mortgage Adviser
“Whether you’re a sole trader, limited company, LLP or have multiple companies with a layered company structure, managing your income can be overwhelming. We specialise in untangling the complexities of self-employed income so matter how complex your income streams are, we’re here to make sense of them. Book a free financial review today on 01270620555 or fill in the form and take the first step toward financial clarity and confidence.”
With our extensive experience and access to a vast lender network, Watts Mortgage & Wealth Management Ltd is the ideal partner for those seeking a tailored mortgage solution. Contact us today, and let our dedicated advisers guide you through the process.
AWARDS AND ACHIEVEMENTS
FAQs for self-employed mortgages
Most lenders require at least two years of accounts or SA302s. However, some specialist lenders may accept one year’s figures.
Yes, but your options may be more limited. We work with lenders who consider applicants with just 12 months of trading history.
Typically, you’ll need:
- SA302 tax calculations (last 2–3 years)
- HMRC tax year overviews
- Business accounts
- Bank statements (personal and business)
- ID and proof of address
Possibly. Lenders will assess your average income over the past 2-3 years or your most recent year (depending on the lender), which might limit your borrowing compared to a salaried applicant.
Yes. As a limited company director, you can often use salary + dividends, and some lenders will even consider retained net profits.
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- Won’t affect your credit score
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- Award-winning mortgage broker
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INDEPENDENT MORTGAGE ADVICE AND PROTECTION FOR YOU
Welcome to Watts!
Our friendly, knowledgeable and experienced team are here to help find the right mortgage and life insurance for you. We have helped thousands of clients, over 30 years buy their dream home and ensure their family is protected.
We are a family business and pride ourselves on our customer service. As an independent company, we can search from over 100 lenders and insurance companies to help you get the best deal.
Get a quick quote above or contact us today.
We search over 100 lenders to find the right mortgage for you
I just wanted to say a massive thank you for your assistance in my purchase. I would like to place on record my appreciation of the professionalism and tenacity of Emma. She has kept me fully updated in terms of progress and answered all of my questions in a timely manner. Great service and hope we can do business again in the future.
A. Henshall
