Self Employed Mortgages Lichfield
At Kind Financial Services, we understand that being self-employed comes with both freedom and challenges, especially when it comes to securing a mortgage. Many of our clients come to us worried that lenders won’t understand their income, but the good news is: there are plenty of mortgage options for self-employed people. With the right advice, securing a mortgage doesn’t need to feel any harder than it does for someone in regular employment.
Whether you’re a sole trader, limited company director, contractor or freelancer, we’re here to help you navigate the mortgage market with confidence.
Self Employed Mortgages in Lichfield
Last Updated: 18th July 2025
Why Getting a Mortgage is Different When You’re Self-Employed
The biggest challenge self-employed people face isn’t eligibility, it’s paperwork and how lenders assess your income. Unlike employees who can show payslips and P60s, self-employed individuals need to provide more detailed financial proof.
Common hurdles include:
- Proving consistent income, especially if your earnings fluctuate year-to-year
- Providing tax documents (SA302s, Tax Year Overviews) and business accounts
- Understanding how your income is assessed (salary, dividends, retained profits)
Some people wrongly believe it’s impossible to get a mortgage when you’re self-employed. That’s not true. It simply requires careful preparation, expert guidance, and a lender who understands how business owners are paid.
How Lenders Assess Self-Employed Mortgage Applications
Different lenders have different rules, but most will want to see proof that your income is stable and sustainable. Here’s what they typically look for:
Years Trading – Most lenders prefer 2-3 years of accounts, but some will accept just 1 year of trading with strong income figures.
Proof of Income – This usually includes:
- SA302s and Tax Year Overviews from HMRC
- Company Accounts signed by a qualified accountant
- Accountant’s Reference (if needed by the lender)
- Evidence of ongoing contracts (for contractors)
Income Structure – How you pay yourself affects how lenders view your income:
- Sole Traders: Lenders typically assess net profit.
- Limited Company Directors: Both salary and dividends are considered; retained profits may count with some lenders.
- Contractors: Some lenders use a day-rate calculation rather than accounts.
Recent Trends in Income – Steady or increasing income is preferable. A significant drop in earnings may need explaining but won’t necessarily stop you getting approved.
Mortgage Options for the Self-Employed
Despite the myths, self-employed borrowers have access to the same range of mortgages as employed people, the key is choosing the right lender. As mortgage brokers, we’ll match you to lenders who understand your circumstances.
How Kind Financial Services Can Help
We’ve helped countless self-employed clients in Lichfield and across Staffordshire find the right mortgage, whether they’ve been trading for years or are just getting started.
Why Choose Us?
- We understand self-employed income structures inside out.
- We work with lenders who specialise in contractor and business owner mortgages.
- We know how to present your finances to give you the best chance of approval.
- We save you time by identifying lenders who suit your unique situation.
- We offer clear, honest advice with no jargon.
Our clients tell us they feel relieved and reassured after speaking to us, because we make a complex process simple.
Your Next Steps
If you’re self-employed and looking for mortgage advice, we’re here to help. Our friendly team can assess your options, answer your questions, and guide you through the process step-by-step.
Get in touch today for expert mortgage advice tailored to self-employed professionals.
Contact Kind Financial Today
Being self-employed shouldn’t make getting a mortgage stressful. With the right support and a broker who understands how lenders view your income, you can secure the home you want with confidence. Contact Kind Financial Services today to get started.
Please be aware that by clicking onto the above link you are leaving the Kind Financial Services website. Please note that neither Kind Financial Services nor PRIMIS Mortgage Network are responsible for the accuracy of the information contained within the linked site accessible from this page.
Your home may be repossessed if you do not keep up repayments on your mortgage.
FAQ's on Self Employed Mortgages
Most frequent questions and answers
This depends on your income, debt, and credit history. Lenders typically offer 4 to 5 times your annual income, though affordability checks apply.
Usually 2 years’ worth of SA302s, Tax Year Overviews, and/or company accounts. Some lenders accept 1 year if other factors are strong.
Yes, some lenders are happy to lend after just 1 year of trading, provided the business is profitable and sustainable.
Yes. Sole traders are assessed on net profit; limited company directors on salary and dividends. Some lenders also consider retained profits.
Not necessarily. If your income is well-documented, you’ll often qualify for the same competitive rates as employed applicants.
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