Self-Employed Mortgages
We understand how you work. Let us find a lender that will too.
Lenders assess the income of self-employed people in many different ways. Some will take an average of salary and dividends over the last two years whereas others may be more interested in the latest year and the overall profits of the business.
Kerr & Watson will spend time understanding your business and income to then recommend the lender that is the most suitable to meet your needs. We can also work alongside your accountant to gain a full picture.
Is it hard to get a mortgage if you’re self-employed?
If you’re self-employed, it can be more of a challenge to get a mortgage because you’ll need to prove you have a reliable income. However, getting a mortgage when self-employed is certainly not impossible, made easier with the help of an experienced broker.
Would I be considered self-employed?
Self-employed people may be trading in the following ways, but not limited to:
- Limited company directors with shareholding above 20%
- Limited liability partnership
- Sole traders and partnerships
- Day rate contractors via limited companies or umbrella companies
How many years do you need to be self-employed to get a mortgage?
Most lenders will ask for two years of company accounts along with tax paperwork. However, there are some lenders willing to consider residential mortgage applications with just one year of trading history.
Mortgage Calculator
Calculate your borrowing potential with our affordability calculator.
Identify what your monthly repayments would be with our repayment calculator.
Confirm your Stamp Duty costs with our Stamp Duty calculator.
How to Get your Tax Calculations and Tax Year Overviews?
If you are self-employed or a limited company director, mortgage lenders nearly always require you to provide your SA302 (Tax Calculations) & Tax Year overviews to support and evidence the income you have earned and declared for your employed, self-employed, dividend and property related remuneration.
Find out how you can get your Tax Calculations and Tax Year Overviews.
Your Mortgage In 3 Easy Steps…
Conversation
Schedule a call to talk to a mortgage advisor about your goals, challenges and vision for your mortgage.
Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.
Research
We will take the information gained on the call and carry out some research before sending you a bespoke recommendation.
If you would like an agreement in principle, we’ll also arrange this for you.
Application
We will submit the full application to the mortgage lender, sending them the documents and liaising with the underwriters until the mortgage has been fully offered on the new interest rate.
We will also communicate with you at every stage, from application to completion.
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