Halcyon Mortgage’s Guide to Self-Employed Mortgage’s
Looking for a mortgage while self-employed? At Halcyon Mortgage, we specialise in helping freelancers, contractors, Halcyon Mortgage’s Guide to Self-Employed Mortgages
Looking for a mortgage while self-employed?
Based in Tamworth and Atherstone, Halcyon Mortgage supports self-employed clients across Warwickshire and the Midlands.”
At Halcyon Mortgage, we specialise in helping freelancers, contractors, sole traders, and company directors secure competitive mortgage deals without the stress.
What Does “Self-Employed” Mean for Mortgage Applications?
For mortgage purposes, you’re considered self-employed if you own 20–25% or more of a business that provides your main income. This includes:
- Sole traders
- Contractors with limited companies
- Partners in a business
- Company directors
How Long Do You Need to Be Self-Employed?
Most lenders require 2–3 years of full accounts. They’ll typically average your earnings over this period to determine how much you can borrow.
If you’ve been self-employed for less than two years but were previously employed, recent payslips may help support your application. Mixed employment histories are best handled with expert advice this is where Halcyon Mortgage can guide you.
Why Is It Harder to Get a Mortgage When Self-Employed?
- No fixed salary: Lenders prefer predictable income.
- Higher documentation burden: You’ll need to prove income stability.
- Automated assessments: Some lenders use rigid systems that penalise variable earnings.
- Sector risk: Lenders may assess the long-term viability of your business or industry.
Periods of illness or reduced income can also affect your borrowing power. That’s why working with a mortgage broker who understands self-employment is essential.
What Documents Will You Need?
To apply for a self-employed mortgage, be ready to provide:
- 2+ years of certified accounts
- SA302 forms or HMRC tax year overviews
- Evidence of contracts (for contractors)
- Dividend statements or retained profits (for directors)
- Proof of ID and address
- 6 months of bank statements
- Details of savings accounts
Requirements vary depending on your business structure. Halcyon Mortgage will help you prepare the right documents for your situation.
Why Self-Certification Mortgages No Longer Exist
Self-cert mortgages where applicants declared income without proof were banned in 2014. Today, affordability checks are mandatory, and lenders stress-test your finances to ensure you can handle future rate increases.
What Mortgage Types Can You Get?
Self-employed borrowers can access the same mortgage products as employed applicants:
- First-time buyer mortgages
- Remortgages
- Buy-to-let mortgages
Your eligibility depends on income, deposit size, and credit history. A larger deposit and strong financial records can unlock better rates.
How to Improve Your Mortgage Chances
Boost your approval odds by:
- Saving for a larger deposit
- Registering on the electoral roll
- Fixing credit report errors
- Working with Halcyon Mortgage for tailored advice
If mainstream lenders say no, we’ll connect you with specialist lenders who understand self-employed income.
Why Choose Halcyon Mortgage?
We’re experts in self-employed mortgage solutions. Whether you’re a freelancer, contractor, or business owner, we’ll:
- Match you with the right lender
- Help you prepare your documents
- Maximise your borrowing potential
- Take the stress out of the process
Ready to explore your options? Contact Halcyon Mortgage today for expert guidance and personalised support.
Mortgage Advice Tamworth & Atherstone
07488 349 759
Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority
Always seek professional advice before making financial decisions.
First-time buyer mortgages Tamworth, remortgages Atherstone