Self-employed clients
Criteria and products aimed at making more possible for your self-employed clients.
Why brokers choose Principality for their self-employed clients
- Up to 95% LTV available on selected mortgage products.
- One-year self-employed products available for sole traders and limited company directors.
- Locum doctors, nurses and vets considered with three months' income.
- Bank nurses, supply teachers and foster carers accepted with six months' income evidence.
- Dedicated CIS Worker products available with six months' income evidence.
- Local BDM support for complex cases.
Which self-employed clients can we help?
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Sole Traders
We can consider sole traders using standard criteria or our one-year self-employed product where eligible.
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Limited Company Directors
Eligible applicants may be considered using one year's accounts under our dedicated self-employed proposition.
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Locum Doctors
Accepted with three months' income evidence.
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Temporary Workers
Bank nurses, supply teachers and foster carers considered with six months' evidence.
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CIS Workers
Dedicated CIS products available with six months' payslips and supporting 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 information | Who this product is for | Eligibility criteria |
|---|---|---|
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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Product information | Who this product is for | Eligibility criteria |
|---|---|---|
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. |
|
Product information | Who this product is for | Eligibility criteria |
|---|---|---|
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. |
|
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.
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.
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
Frequently asked questions
Assessment depends on the applicant type and product, with income evidence and affordability checks forming part of the lending decision.
Yes. Principality offers dedicated products for eligible sole traders and limited company directors with one year's accounts or tax calculations.
Selected self-employed products are available up to 95% LTV for eligible applicants.
Ready to submit a case?
Whether you're ready to submit a case or would like to discuss it first, we're here to help.
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