Self-employed mortgages in Glasgow & East Kilbride

Yes, you can get a mortgage when you're self-employed. Most lenders want to see two years of accounts or tax calculations, some will consider one, and the right lender can make a big difference to how much you can borrow. We search the whole market to find the ones that understand how you earn.

Who we help

Sole traders and freelancers
Limited company directors
Partners in a partnership or LLP
Tradespeople, consultants, landlords and business owners with mixed income
People recently gone self-employed after years in the same line of work

How do lenders work out what I can borrow?

It depends on how your business is set up, and lenders don't all look at it the same way.

Sole traders: usually based on your net profit.
Partners: usually based on your share of the profit.
Limited company directors: some lenders use salary plus dividends; others will use your share of the company's net profit, which can mean borrowing more if you leave money in the business.

Knowing which lenders take which approach is a big part of what we do.

What documents will I need?

Two years' SA302 tax calculations and tax year overviews from HMRC (one year with some lenders)
Or two to three years of accounts prepared by a qualified accountant
Recent business and personal bank statements
Proof of ID and address, and details of any existing credit

We'll tell you exactly what's needed for your case before anything is submitted, so there are no surprises.

Can I get a mortgage with only one year's accounts?

Sometimes. A smaller group of lenders will consider one full year of trading, particularly if you were already working in the same field before you went self-employed. Your deposit, credit history and the strength of that year's figures all play a part.

Why use a broker?

High-street lenders often decline self-employed applicants who would be accepted elsewhere. We check your figures against lender criteria before you apply, so you don't collect unnecessary credit searches or declines. Then we package the application to show your income clearly and keep it moving through to offer.

Self-employed mortgage FAQs

Do I need a bigger deposit if I'm self-employed?

Not necessarily. Many lenders offer the same deposit options to self-employed applicants as to employed ones. Your deposit, income history and credit record all affect the choice of lenders.

My profits dropped last year. Will that be a problem?

Most lenders take the lower or the average of your last two years. We'll show you how different lenders would view your figures and which one gives you the best position.

Can I use retained profit in my limited company?

Some lenders will consider your share of the company's net profit rather than just salary and dividends. We'll check whether that helps in your case.

I've just gone self-employed. Should I wait?

Not always. If you have a track record in the same industry, a few lenders may consider you sooner. Talk to us first and we'll tell you honestly whether to apply now or wait.

Talk to us

Call 01355 511068 or email Hello@YNSmortgage.com for a free, no-obligation chat. We're open evenings and Saturdays.