At Amazing Mortgage Solutions, we understand the issues and difficulties you face when looking for self-employed mortgages. When you are self-employed, it feels like you have to jump through so many hoops. I’m not going to say that that isn’t true. Compared to employed applicants, we do need a few more documents to understand and support the mortgage application. 

For example, if you were employed, you normally would need three months’ payslips, potentially a contract, sometimes the last year’s P60. As a self-employed applicant, you need two if not three full years of your accounts. There are exceptions to this, but that is true in general. 

As a self-employed applicant looking to buy a property unlike your employed counterparts you need to get all your income documents in order years in advance, I would even suggest get a good accountant and tell them that you are thinking of buying a property in a few years so they can start to help prepare you accounts accordingly. That clever piece of planning is going to put you in a stronger position going forward. While an employed applicant could potentially start a job and then within a few months decide to apply for a mortgage, it is a little more complex if you are self-employed.

If you apply with someone who is not self-employed (such as partner, spouse or relative) and can provide the required evidence of income along with Bank statements, it could further help your chances of being accepted for a mortgage.

There are some lenders that will accept a recognised accountants (Chartered or Certified) reference to help support a mortgage application this can often help speed up the application process.