Mortgages for the self employed, company directors, partnerships, sole traders
To prove your income for a mortgage application as a self employed person you will require: A Tax Calculation covering the requested tax year(s)* and A Tax Year Overview to accompany each Tax Calculation *Typically last two years, can be three or one, depending on the Lender Tax Calculation A tax calculation shows your income … Read more
We often find that our self-employed applicants are unsure what to consider as their ‘income’ for mortgage purposes when making a mortgage application. This is not a simple question. What a self-employed applicant can consider as income will depend on the mortgage lender there using and most importantly their trading style. Other factors include ownership … Read more
Mortgage Lenders now require copies of Tax Calculations (SA302s) and Tax Year Overview for self employed applicants. These documents can be downloaded from HMRC Gateway online tax return submission service However, we find that our clients frequently have trouble navigating the HMRC website and obtaining copies of the required documents in the required format. This … Read more
Our most frequently asked self employed mortgage questions How many years trading figures do I need? To satisfy all lenders you will need three years trading figures. Many lenders work on two years figures. A few will work on a single year’s figures. What do mortgage lenders consider as my income? This depends on your … Read more