Self-Employed Mortgages in South Wales
Being self-employed doesn't mean getting a mortgage should be difficult. We know which lenders welcome self-employed applications and how to present your income in the best light.
Mortgage Advice for Self-Employed Borrowers
Getting a mortgage when you're self-employed can feel challenging, but it doesn't have to be. The key is knowing which lenders to approach and how to present your income. Different lenders calculate self-employed income differently — some use your net profit, others use salary plus dividends, and some use a share of retained profits.
We work with lenders who understand self-employment and take a pragmatic approach to income assessment. Whether you're a sole trader, in a partnership, or a company director, we'll find the right lender for your situation.
Most lenders want to see at least 2 years of accounts or SA302 tax returns, but some accept just 1 year for established businesses. We know exactly which lenders accept what, saving you time and reducing the risk of rejection.
Common Challenges and How We Help
Self-employed borrowers often face challenges that employed applicants don't. Fluctuating income, low declared profits for tax efficiency, complex company structures, and limited trading history can all make the application more complicated.
Our job is to navigate these challenges for you. We'll review your accounts, identify the best way to calculate your income, and match you with lenders whose criteria you meet. This targeted approach means higher approval rates and better deals.
- Sole traders, partnerships, and limited company directors
- Lenders accepting 1 year of accounts available
- Salary plus dividends income calculations
- Retained profit considerations for company directors
- CIS subcontractor specialist lenders
Frequently Asked Questions
Can I get a mortgage with only 1 year of self-employment?
Yes, some lenders accept applications with just 1 year of accounts, especially if you've been in the same industry previously. We'll identify the right lenders for your situation.
How do lenders calculate self-employed income?
It depends on your business structure. Sole traders typically use net profit. Company directors can use salary plus dividends, and some lenders also consider retained profits.
Will low profits affect my mortgage application?
If you've been reducing your declared profits for tax efficiency, some lenders may calculate affordability based on the lower figures. However, we work with lenders who take a more holistic view of your income.
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