Professional Affordability Assessment for Freelancers & Business Owners
Calculate your self-employed mortgage affordability with our specialized UK calculator. Designed for freelancers, contractors, and business owners with complex income structures.
Enter your business income details to assess your mortgage borrowing capacity as a self-employed applicant
Essential information for self-employed mortgage applicants in the UK
Lenders typically use an average of your last 2-3 years' net profit from SA302 forms and certified accounts. They may apply a lower income multiple (3.5-4.0x) compared to employed applicants and require additional documentation to verify income stability.
You'll need SA302 forms and tax year overviews for the last 2-3 years, certified accounts prepared by a qualified accountant, business and personal bank statements, and evidence of ongoing contracts or future work commitments.
Some specialist lenders offer mortgages to self-employed applicants with just one year of accounts, but options are limited and rates may be higher. Most mainstream lenders require 2-3 years of trading history for better rates and terms.
As a company director, lenders will assess your salary plus dividends. They may use net profit if you own a significant share (usually 20%+) of the company. Having accounts prepared by a qualified accountant and maintaining clear financial records is crucial.
Yes, a specialist mortgage broker is highly recommended for self-employed applicants. They have access to specialist lenders who understand complex income structures and can present your application in the best possible light to improve approval chances.