I have helped countless clients who are self-employed, agency workers, subcontractors and daily rate workers throughout my time as a whole of market mortgage broker.

What lenders usually ask for is your most recent up to date 2 years sa302 and tax year overviews (sort of like p60s for self-employed people). The lenders will use an average of the latest two years or will use the lowest income from the two years for affordability (not all lenders though).

If you use an accountant, they should be able to access these o problem. If you self-assess it's easy enough to access them through the HMRC website, it may just take a little longer. If you struggle there is really great tutorials giving a step-by-step guide on how to generate them.

Although we do have access to lenders who will use just one year’s sa302s and tax year overviews if you have a new business or another business. Many clients are not aware of this and are happy to get on the property ladder sooner rather than later.

Similarly, we have lenders who will use the most recent years sa302 and tax year overview instead of averaging the last 2 years if you need more income for affordability, again many clients are happy to be in their new homes without having to wait another year. 

As a whole of market mortgage advisor the list is endless!

The lender will normally use the pre-tax figure from your profit. If this sounds technical, it's not. I can guide you through everything!

Contract Workers:

Some lenders actually will see you as employed if you are contract worker and who you contract for pay your tax at source. This is how most CIS workers are paid. This is when contractors pay their tax at source each week/month through the supplier of the contract. In this case we would normally 13 weeks or 3 months payslips or however you are paid.

Agency Workers:

Agency workers have different rules but most lenders will class them as employees and will lend based on how long they have been registered with an agency and how long left on current contract.

Daily Rate Clients:

Daily rate clients also have different rules, but again we have lenders happy to look at different ways of payments. Every case is unique and I am happy that I can make a bespoke recommendation for each and every client.

What I tend to do is talk my clients through the whole process from start to finish and them help them over any hurdles.

Risk Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

If you need any help or guidance you can find me on 0151 318 1592 , or email me at jen@themortgageladyuk.com.