Self Employed

Posted on 1 May 2012 by Chris

How does one go about securing a mortgage if one is self employed since self certification has been stopped?


The demise of self certification mortgages has not led to the demise of mortgages for the self employed, but as with all other areas of mortgage lending it is now harder to qualify.

Depending on whether you are a Ltd Company, Partnership or Sole trader they will probably want to see 3 years accounts, at least 3 months bank statements and your SA302s.  Some lenders will use Dividends plus Directors renumeration and some your net profit before tax, as a rule they will all take what you declare to the Inland Revenue as your annual income and base their calculations on this figure.

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage for your situation.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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