Can I get a mortgage if I am self-employed?

Yes — being self-employed does not prevent you from getting a mortgage. Around 15% of the UK workforce is self-employed, and lenders have developed criteria to assess these applications. The key difference is how income is verified: instead of payslips, lenders typically ask for 2–3 years of SA302 tax calculations (the HMRC summary of your self-assessment return) plus a tax year overview, or certified accounts prepared by a qualified accountant. The income figure used varies: sole traders and partnerships use net profit (after business expenses). Limited company directors are assessed on salary plus dividends — and some progressive lenders also factor in retained profits in the company. The most common challenge is if your income has varied between years — lenders typically use an average, or the lower of the two most recent years. A specialist self-employed mortgage broker knows exactly which lenders will be most generous with your specific income structure.

How do lenders calculate self-employed mortgage income?

The method varies by trading structure. Sole traders and partnerships: lenders use your net profit as shown on the SA302. For example, if your profit was £60,000 in year 1 and £70,000 in year 2, most lenders use the average (£65,000) or the lower figure (£60,000). Limited company directors: lenders assess salary + dividends. If your salary is £12,000 and dividends are £50,000, most lenders will use £62,000 as your income. Some progressive lenders also add back retained profits — particularly useful if you have left profits in the company for reinvestment. Contractors and freelancers: many lenders will use your day rate x 48 weeks as your annual income, which can significantly increase your assessed income compared to your personal tax return. A broker who specialises in self-employed mortgages knows which lender's calculation method produces the best outcome for your specific situation.

How many years of accounts do I need for a self-employed mortgage?

The standard requirement is 2 years of accounts or SA302 tax calculations. Some lenders require 3 years. However, a small number of specialist lenders will accept just 1 year of accounts for applicants who can demonstrate: a strong income level, experience in the same industry before going self-employed, a clean credit history, and a minimum 15–25% deposit. If you have recently gone self-employed but have a previous employed track record in the same field, this helps some lenders take a more flexible view. Newly self-employed applicants with less than 12 months of trading face very limited options — the most practical route is usually to wait until you have a full year of accounts, maintain a clean credit profile, and build savings for a larger deposit. A broker can advise whether any current lenders will consider your specific situation.

Self-Employed Mortgage Guide UK | Getting Approved 2026

Written & reviewed by

Amber Story, Mortgage Broker & Founder

Amber is the broker and founder of The Mortgage Story, providing independent, whole-of-market mortgage advice across the UK. Amber is FCA authorised, reference number 991223. About The Mortgage Story →

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Getting a Mortgage When You’re Self-Employed: The Complete UK Guide

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