Mortgages for the self-employed

It is more difficult to obtain a mortgage if you are self-employed. Most lenders will expect to see the last two years of your audited accounts that have been checked by HMRC. You can request a statement, form SA 302 from HMRC that details your taxable income and is accepted by most lenders as proof of your earnings.

Since the credit crunch the criteria surrounding lending to self-employed individuals has been tightened by most lenders. It is possible that a lender will want to see evidence of projected income into the future before they agree to lend you money for a mortgage.

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