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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Mortgages for People Who Work for Themselves
Being self-employed should not stop you buying a home or remortgaging. The problem is that many lenders only fit employed people into their rules. You count as self-employed if you work for yourself or own 20% or more of the business that pays you.
We have helped contractors, sole traders and business owners across Derbyshire and the UK get mortgages, often after a bank has said no. We know which lenders count your income in the way that works best for you.
Who Counts as Self-Employed?
Contractors
Whether you work through a limited company or an umbrella company, some lenders use your day rate instead of asking for two years of accounts.
Sole Traders
Lenders usually look at your net profit from your SA302s or accounts. We find lenders who allow for income that goes up and down.
Partners
If your profit share has changed or you joined recently, we find lenders who assess partnership income fairly.
Franchise Owners
Lenders often view established franchise brands well. We present your income to show how stable it is.
Company Directors
Many directors take a low salary plus dividends. Some lenders only look at your salary, so we use lenders who count dividends or your share of profit.
New Businesses
Recently set up? Some lenders will help with one year of trading, and we can tell you when to apply.
Find Out What You Could Borrow
Our team will look at how you earn and which lenders will count your income in full.
How Lenders Look at Your Income
What lenders use
- Sole traders and partners: net profit
- Company directors: salary, salary plus dividends, or share of profit
- Contractors: day rate or accounts
- An average of recent years, or the latest year if income is rising
Documents you will usually need
- Two to three years of SA302s or certified accounts
- Matching HMRC tax year overviews
- Recent personal and business bank statements
- Proof of identity and address
How It Works
Get in touch
Call us or send an enquiry with a few details about your business and your plans.
First chat
We talk through your income, explain what is realistic and list the documents you need.
Find the right mortgage
We compare lenders who suit self-employed income and explain the pros and cons.
Application to completion
We handle the paperwork and the lender, and keep you updated until you get the keys.
More Help for Business Owners
Why Choose Mortgage & Finance Arena
Whole of Market
We are not tied to any lender, so we search for the best fit for your income.
Local and UK-Wide
Meet us in Pride Park, Derby, or talk by phone or video from anywhere in the UK.
70+ Years of Experience
Our team has over seven decades of combined experience.
FCA Regulated
Authorised and regulated by the Financial Conduct Authority (Ref: 706676).
Local Advisers
Our team live and work locally and know the local market.
We Handle the Paperwork
We deal with the lender and keep you updated until you get the keys.
Self-Employed Mortgage FAQs
Show that your income is steady, usually with two years of accounts or tax returns. Some lenders accept one year. We help you present your income clearly and match you with lenders who suit how you earn.
It takes more paperwork, but it is not always harder. The main problem is that many lenders do not understand self-employed income. We know the lenders that do.
Usually two to three years of SA302 tax calculations or certified accounts, matching HMRC tax year overviews, recent bank statements, proof of identity and address, and details of your other commitments. Company directors may also need company accounts.
It depends on how you trade. Sole traders and partners are usually assessed on net profit. For company directors, some lenders use salary only, some use salary plus dividends and some use your share of the company’s profit.
Yes, some lenders accept one year of accounts, and some use a contractor’s day rate instead. You may have fewer lenders to choose from.
How long you have traded, whether your income is steady or growing, your credit history, your deposit and your other commitments.
Ready to Talk?
Tell us about your business and your plans, and one of our team will call you back. There is no obligation.
Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy to let mortgages are not regulated by the Financial Conduct Authority. Mortgage & Finance Arena Ltd is authorised and regulated by the Financial Conduct Authority (FCA No. 706676).
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Honest opinions from people like you
There simply are no superlatives sufficient to thank you for your fantastic service! I would highly recommend mortgage and finance area to any of my friends or family looking for a mortgage. You’ve made our dreams come true! The team go above and beyond to make everything so easy.
The advice and financial services I have recently had from Charlotte at Morgage And Finance Ltd in Derby has been first class. Very professional, helpful, efficient and supportive. I wholeheartedly recommend them.
Suzanne and Charlotte were amazing and made the process of buying our first home completely stress-free for us. They were both on hand if we ever had any problems/questions and always responded with knowledgeable and completely honest answers. I would highly recommend.
If I could rate this company more than 5 stars I would. I cannot fault the service and support my partner and I have received whilst getting our first mortgage together. Ian and Megan have been amazing, making the process completely stress free. They were both on hand if we ever had any questions. I would highly recommend. Thank you!
There simply are no superlatives sufficient to thank you for your fantastic service! I would highly recommend mortgage and finance arena to any of my friends or family looking for a mortgage. You’ve made our dreams come true! The team go above and beyond to make everything so easy.