How do I get a mortgage if i’m self employed?

Gone are the days of “I can’t get a mortgage, I’m self-employed”

On many occasions we have had clients come to us with the misconception that as they are self-employed it is harder to get a mortgage and they will only have access to higher rates. But this isn’t the case, yes the lender will need to see evidence of income over a longer period of time however the rates are the same and it is just as easy as if you were employed.

In terms of the number of years of accounts you need, many people think you need at least 3 before you can apply for a mortgage. However, these days there are banks out there who are happy to accept just 1 or 2 years accounts. Along with this lender now use different figures when calculating how much you can borrow with some lenders using salary and dividends whilst other using net and retained profits aswell.

There are a lot more options out there for you today if you are self-employed and our brokers here at Smarter Mortgages have plenty of experience in this area.