Buying your first home is a major milestone. If you’re self-employed, it’s natural to wonder whether securing a mortgage will be more difficult — especially as a first-time buyer. The good news is that self-employed buyers can absolutely get a mortgage in the UK, provided the application is structured correctly.
Can you get a mortgage if you’re self-employed?
Yes. UK lenders regularly approve mortgages for self-employed applicants, including sole traders, limited company directors and partners. The key difference is how income is assessed, rather than whether you qualify at all.
Instead of payslips, lenders look at your business performance and sustainability.
How many years of accounts do you need?
Most lenders ask for two years of accounts or tax calculations, though some will consider applications with just one year if income is strong and consistent. The more established your trading history, the wider your lender options tend to be.
What documents will lenders ask for?
This typically includes:
- SA302s or tax year overviews
- Full company accounts (for directors)
- Business bank statements
- Personal bank statements
- Proof of deposit and ID
Preparing these in advance can significantly speed up the process.
How much deposit is required?
In many cases, self-employed first-time buyers can access the same deposit levels as employed applicants — often from 5–10%, depending on lender criteria and credit profile.
A larger deposit can improve interest rates and lender choice, but it is not always essential.
Common challenges (and how to overcome them)
Self-employed applicants are often declined due to:
- Irregular income
- Using the wrong income figure
- Applying to unsuitable lenders
This is where tailored advice makes a meaningful difference.
Why using a specialist mortgage broker matters
A broker experienced in self-employed mortgages understands which lenders assess income fairly and how to present your application clearly. This reduces declined applications and protects your credit profile.
FAQs
Is being newly self-employed a problem?
Not always. Some lenders will consider applicants with one year’s trading history.
Can dividends be used as income?
Yes, with the right lender and supporting accounts.
Next step: speaking to a broker early allows you to plan confidently and avoid unnecessary delays.