In order to get a mortgage when you’re self-employed, you’ll be expected to meet the lender's criteria. Generally, this means you’ll need to:
Demonstrate proof of your income over a period of time. Usually, lenders will want to see two or three years’ worth of accounts, but there are lenders who’ll consider applications without, if you’re financially stable.
Be able to show proof of different income streams.
Put down a deposit. This shouldn’t necessarily be higher if you’re self-employed. But lenders can sometimes ask for a higher deposit if you’re what they class as ‘risky’, for example, you’ve got a short trading history.
Meet credit criteria. Any bad credit issues on your credit file (such as CCJs, IVAs, repossessions, bankruptcy or others) can impact your mortgage application and make it more difficult to get approved. A specialist broker can advise you on your options.
Have the right documentation in place. A lender might ask to speak to your accountant, alongside seeing your proof of income, bank statements and evidence of your deposit.
Have an accountant. Some lenders will want you to have an accountant they can speak to, but not all.
Read more in our Guide: What Mortgage Lenders Look For in Mortgage Applicants