Self Employed Mortgages Advice in St Helens
Self employed mortgages can seem more complicated than standard applications, but being self employed does not mean getting a mortgage is harder than it needs to be.
Self Employed Mortgages Advice in St Helens
With the right preparation and guidance, many self employed people secure competitive mortgage deals every day.
At Allisons Financial, we specialise in helping self employed individuals understand how lenders assess income and what’s required to move forward confidently. Whether you’re a sole trader, limited company director, contractor or freelancer, we provide clear, impartial advice and access to the whole mortgage market.
Understanding Self Employed Mortgages
There is no specific product known as a “self employed mortgage”. Instead, the difference lies in how lenders assess income when it doesn’t come from a straightforward PAYE salary. Lenders want reassurance that your income is sustainable and consistent, even if it fluctuates from year to year.
Some lenders take a cautious approach, averaging income over several years, while others are more flexible and will consider your most recent figures or retained profits. The key is knowing which lenders suit your circumstances and approaching them correctly. This is where whole-of-market advice can make a real difference.
How Lenders Assess Self Employed Income
How your income is assessed depends on how you’re structured. Sole traders are typically assessed using net profit figures shown on tax returns.
Limited company directors may be assessed using salary and dividends, or in some cases salary plus retained profits, which can significantly affect borrowing potential. Contractors and freelancers are often assessed using contract rates rather than historic accounts, provided the contracts are suitable.
Because lender criteria varies widely, two people with identical income figures can receive very different mortgage offers depending on which lender they approach. At Allisons Financial, we assess your income first, then match you with lenders whose criteria are aligned with your profile.
How Much You Can Borrow When Self Employed
Borrowing capacity for self employed mortgages depends on more than just your headline income. Lenders will look at your trading history, income trends, existing commitments and credit profile, as well as the type of property you’re buying or remortgaging.
Some lenders are happy to use your most recent year’s income if it’s higher than previous years, while others may average income over two or three years. If your income has dipped or been affected by specific events, this doesn’t automatically rule you out. With the right lender selection and explanation, many applications remain viable.
Our role is to give you a realistic view of your borrowing power before you apply, so you can move forward with confidence and avoid unnecessary declines.
Buying, Moving Home or Remortgaging When Self Employed
Self employed mortgages apply across all stages of home ownership. First-time buyers who are self employed often worry they’ll be at a disadvantage, but many lenders actively support self employed applicants. Preparation and presentation are key, and we’ll help ensure you’re ready before you apply.
If you’re moving home, lenders will reassess your income even if you already have a mortgage. Planning ahead is essential, particularly if your income structure has changed since you last applied. Similarly, remortgaging while self employed is very common, whether to secure a better rate, fix payments or release equity. In each case, lender choice and timing play a crucial role.
Why Specialist Advice Matters for Self Employed Mortgages
Self employed applications are rarely “one size fits all”. Without specialist advice, applicants often approach lenders whose criteria don’t suit their income structure, leading to unnecessary delays or declines that can affect future borrowing.
At Allisons Financial, we take a strategic approach. We look at your business, your income and your long-term goals before recommending a lender or product. This ensures your mortgage supports not just your immediate plans, but your wider financial future too.
Why Choose Allisons Financial
Clients choose Allisons Financial because we offer clear, impartial advice backed by whole-of-market access. We take the time to understand your circumstances and explain your options in plain English, without jargon or pressure.
You’ll deal directly with a senior adviser who manages your case from start to finish, keeping you informed at every stage. Our aim is to make the mortgage process feel clear, controlled and confidence-building, even when income is complex.
Speak to a Self Employed Mortgage Adviser
Being self employed shouldn’t limit your options. With the right advice, self employed mortgages can be just as accessible and competitive as any other.
Book your free consultation today and let Allisons Financial help you move forward with clarity and confidence.
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Self Employed Mortgages FAQs
Can I get a mortgage if I’m self employed?
Yes. Many lenders offer mortgages to self employed applicants, provided income can be evidenced.
How many years’ accounts do I need?
Most lenders prefer two years, but some will consider one year in the right circumstances.
Can limited company directors use retained profits?
Yes, some lenders include retained profits when assessing affordability.
Can contractors get mortgages?
Yes. Specialist lenders often assess contractors using contract rates.
Are self employed mortgage rates higher?
Not necessarily. Rates depend on the lender, product and overall risk.
Will fluctuating income affect my application?
It can, but many lenders take a flexible approach if income is sustainable
Self Employed Mortgage Advice in St Helens
Based in St Helens, Allisons Financial supports self employed clients across Rainford, Prescot, Ormskirk and surrounding areas. We offer face-to-face and virtual appointments, combining local knowledge with nationwide lender access.
