You can get a mortgage if you are self employed or run a business

Self employed or a business owner, it is possible to secure a mortgage. Lenders will look at your income to determine how much you can afford to borrow and assess the viability of your business. 

Different types of self-employment (sole trader, limited company director, contractor) may affect your ability to secure a mortgage or the amount you can borrow. 

For sole traders, lenders will typically use tax returns or S3O2 and tax year overviews or even an accountant reference to determine income, it may be more difficult to secure a mortgage if you have been in business for less than two years but it is still possible. You may even be able to get a mortgage from day 1 of being self employed. 

For limited company directors, lenders there may be additional options as well. Lender can base the mortgage on the company earnings or your own personal earnings. This means that should you be keeping money in the business, this can be used for your affordability.  

Not all lenders have the same lending criteria for self-employed individuals and it is important to do your research or talk to a broker who can help. 

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