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Mortgages for the self employed

Mortgages for the self employed

As a self-employed professional, getting a mortgage can be challenging. Banks and lenders may not take a holistic view of your income or accurately assess affordability based on your total earnings.

As a result, you could end up with a loan that doesn’t reflect your true borrowing potential; with an interest rate that penalises you just for being self-employed.

At Company Bug, we’re committed to providing the best possible products & services for our members and that is why we have teamed up with Freelancer Financials; one of the UK’s leading mortgage specialists for limited company directors, contractors, freelancers, and self-employed.

So, whether you’re interested in buying a new home, remortgaging or a buy-to-let property Freelancer Financial can help.

The Freelance Financials’ difference:

  • Wholly independent, with access to all self employer-friendly mortgage lenders
  • Have helped banks and building societies devise their self-employed lending criteria, so know precisely what to look for
  • Have been successfully getting mortgages for the self employed since 2004
  • We understand working as self-employed, so can interpret self-employed income to mortgage lenders
  • Borrow up to 5 times your annualised contract rate, subject to status
  • We can often use just your current contract, an up to date CV, 3 months’ bank statements and proof of ID to get you a mortgage.

Having helped thousands of independent professionals obtain the mortgage funding they require, Freelancer Financials are ready and able to help you finance your new home or property. Simply fill in the form below to get the process started.

Top Mortgage Tips

Ensure your cv is up to date

Make sure you have a copy of your most recent cv to hand when putting together your mortgage application. It’s important to be able to show lenders not only how much income you have, but also how long you have remaining on your contract.

Avoid lengthy breaks between jobs

There are many perks to working as a self-employed professional, not least being able to take breaks between contracts should you wish to. This is great for holidays or similar. However, you should try and avoid taking breaks of anything more than 6-8 weeks. This is because lenders want to see consistent income and workflow stretching back 12-24 months prior to your mortgage application – long gaps between receiving income payments are not viewed favourably

Be realistic about your repayments

A common mistake many professionals make when searching for a self-employed mortgage is being unrealistic when it comes to estimating their repayments. It’s really important when putting your mortgage application together that you make sure the repayments you commit to are going to be affordable for you.

Have at least a 10% deposit

Most lenders will require you to have a good-sized deposit when you apply for a self-employed mortgage. Not so long ago it was possible to secure a mortgage with just a 5% deposit, but those days are gone now. Ideally, you should aim to have at least a 10% deposit ready to pay upfront.

If suitable, look for mortgages that allow additional payments

Some self-employed professionals may find themselves with more money than they need on a regular basis thanks to high-value or frequent contracts. If this sounds like you, you should try to find a mortgage that allows you to pay chunks off in addition to your regular monthly repayments. This will enable you to take maximum advantage of your position and pay-off more of your mortgage quicker.

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    Company Bug are not authorised to offer regulated mortgage advice. Company Bug are introducers to Freelancer Financials.


    Financial advice is given by Freelancer Financials, which is a trading name of Mortgage Quest Ltd and is regulated and authorised by the Financial Conduct Authority (FCA). Our FCA registration number is 312484.

    Terms & Conditions

    There will be a minimum broker fee for our mortgage service of £750 depending on your circumstances, and we will retain the commission from the mortgage lender. Alternatively, you can choose the fee only option which is typically 0.65% of the amount borrowed. The precise amount will depend on your circumstances and mortgage loan amount, and will be discussed and agreed before you make a mortgage application. Our broker fees only apply when you decide to go ahead with an application.

    Not all products are regulated by the FCA e.g. Buy to Let Mortgages.

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