There is a popular misconception getting a mortgage if you are a freelancer or self employed is more difficult. The reality is getting a mortgage if you are self-employed is not that different than if you were employed.
You have access to all the same lenders and will be subject to the lender’s affordability criteria in exactly the same way as if you were employed. The main difference will be how you prove your income. As a general rule the lender will require company accounts for the last 2-3 years which show any income your draw from the business along with net profits.
With more and more people choosing to work for themselves and the rapid growth of the UK ‘gig economy’ self-employed mortgages are an increasingly popular option. If you are self-employed or a freelancer wanting to buy a home or remortgage your current property feel free to click here to contact us where we would be happy to arrange a free 15-minute consultation to explain what is possible.
Please Note: The Mortgage Xchange is a partner of Scott & Goose LLP who are directly authorised by the Financial Conduct Authority under reference 661183. Your home may be repossessed if you do not keep up repayments on your mortgage.