Find effective mortgage deals for your unique business and income arrangement.
If you’re self-employed as a sole trader or in a partnership, getting a mortgage can feel more complicated than it needs to be. We help you understand how lenders assess your income and find a mortgage that fits your setup.
At The Mortgage Heroes, we help present your income clearly and match you with lenders who understand self-employed and partnership finances.
A sole trader or partnership mortgage is designed for people who are self-employed and earn income through their business rather than a standard salary.
Lenders don’t all assess self-employed income in the same way. Some Lenders will work from your most recent year’s profit as others may work from an average of your last 2 years.
Many self-employed borrowers assume they’ll be declined or limited in how much they can borrow. In reality, the key is choosing a lender whose criteria match how your income is structured.
Criteria varies between lenders, but many sole traders and business partners may be eligible if they have an established trading history, income supported by accounts or tax documentation, and a personal credit profile that meets lender requirements. Lenders will also consider whether the business is trading steadily and sustainably.
If your income fluctuates or has grown recently, that doesn’t automatically rule you out. We’ll help identify lenders who take a more flexible view of self-employed income.
We focus on clarity and preparation, ensuring everything is in place to allow lenders to view your income clearly – and get you the best deal.
We talk through your business, income, and mortgage goals.
We assess accounts, SA302s, and tax year overviews where required.
We identify lenders who support sole traders and partnerships.
We explain borrowing options and affordability in plain English.
We manage the application and work with your accountant if needed.
Self-employed income can be less predictable, which lenders take into account. Reviewing protection can help safeguard your home and income if earnings are disrupted.
Most lenders assess sole trader income based on profit from self employment, typically averaged over the last two years. Some may consider the most recent year if income is stable or increasing.
The way income is structured within the partnership can affect how it’s treated. For example, lenders might assess your share of the partnership’s profit from self employment based on your ownership percentage.
A common misconception, having two years of accounts is not a requirements but will give you more options. Some lenders may consider less depending on experience, sector, and overall strength of the application.
Possibly. Some lenders may consider the most recent year’s figures if performance has improved and the increase appears sustainable.
If your income has decreased on the most recent year’s tax return, it is still possible to get a mortgage. Your affordability will be based on the most recent year if your income in that year is lower than the previous one.
It can. Lower declared income may reduce borrowing potential, but different lenders assess income in different ways, and options may still be available.
Yes. The same income assessment approach applies when remortgaging, and we’ll match you with lenders suited to your structure.
Read our guides, covering income evidence, affordability, and how lenders view sole traders and partnerships.
Start your journey online with The Mortgage Heroes. Our experts are here to help, offering clear, practical advice and support for your mortgage journey – without the pressure.
