Self-employed clients
Criteria and products aimed at making more possible for your self-employed clients.
Supporting your self-employed clients
To help your self-employed clients with their mortgage, we have a range of options available.
- Business accounts & income: For loans more than 75% LTV, we use the average of the most recent 2 years income. For loans up to 75%, we will use the most recent year’s income.
- Locum doctors: Accepted with 3 months' income.
- Temporary workers: Bank nurses, supply teachers and foster carers accepted with 6 months' income evidence.
Self-employed residential products
Alongside our standard residential mortgage product range, we've introduced several residential products for self-employed clients who sit outside of our standard mortgage lending criteria.
Important: When searching for these products on MSO, please select the specific self-employed product. If you select an incorrect product, your application may be cancelled.
Product name | Product information | Who this product is for | Eligibility criteria |
|---|---|---|---|
CIS 6 Month product | Terms available: 2 & 5-year fixed rates available. Product fee: Product available with or without product fee. Maximum LTV: 90% | For CIS workers with 6 months' payslip. |
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1 Year Self-Employed product (Limited company directors) | Terms available: 2 & 5-year fixed rates available. Product fee: Product available with or without product fee. Maximum LTV: 90% | For limited company directors with one years accounts. | 1 year's accounts or an accountant’s certificate prepared by an appropriately qualified accountant. The most recent accounts must not be older than 18 months. We will use Salary and Dividend income. |
1 Year Self-Employed product (Sole traders) | Terms available: 2 & 5-year fixed rates available. Product fee: Product available with or without product fee. Maximum LTV: 90% | For sole traders with 1 year tax calculations. |
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Want more information?
You can find more information on how to submit an application for our self employed products or view the latest rates available.
Self-employed income evidence
For our standard range of mortgages, self-employed applicants require the following when assessing affordability.
Limited Company Directors i.e. they have a 33% or greater shareholding should provide years' accounts or an accountants certificate prepared by an appropriately qualified accountant.
The most recent accounts must not be older than 18 months.
We will accept salary and dividend income.
Sole Traders should provide 2 years' HM Revenue & Customs (HMRC) tax calculations, SA302 or online tax assessments supported by the corresponding tax year overviews.
The SA302 and assessments must show the customer’s name, tax year, unique tax reference (UTR) and HMRC logo.
We will use net profit for affordability purposes.
Partners in a large firm with multiple partners should provide written confirmation of income from the company accountant, finance manager or managing director.
We will use net profit for affordability purposes.
Labour only contractors should provide 1 year's accounts.
They should have been contracted to no more than 2 employers over the last 12 months.
We will use net profit for affordability purposes.
We accept zero hours contracts. Applicants require:
A minimum of 12 months' consistent income and continuous employment with the same employer
Evidence of the last 2 P60 documents, 3 months’ worth of payslips and 1 month’s bank statement
Construction Industry Scheme (CIS) contractors will be treated as self-employed.
Affordability is assessed using the most recent set of accounts.
We will require 1 year's self assessment, SA302 etc.
We will use net profit for affordability purposes.
Get in touch
Get support from your local BDM on your latest case or contact our helpdesk for help with an application.