Tag: mortgage process

Self employment mortgages

Self-Employed Mortgages: How to Get Approved as a Sole Trader, Contractor or Director

The idea that being self-employed makes a mortgage difficult is decades out of date- but the idea dies hard. In 2026, the right lender, paired with the right broker, can get a sole trader, contractor or company director approved as quickly and cleanly as any PAYE employee. The trick is knowing which door to knock on. What Counts as Self-Employed? Sole traders, partners in a partnership, shareholding directors of their own limited company, contractors working through a personal service company, and certain types of consultant. The HMRC definition and the lender definition don’t always align- most lenders treat anyone with less than 100% PAYE as self-employed for underwriting purposes. The Two-Year Rule (And Why It’s Not Absolute) Most mainstream lenders want two years of self-employment history, evidenced by two years of SA302s and tax year overviews (or company accounts). A handful of specialist lenders- Kensington, Halifax, Clydesdale, Aldermore- will lend on one year’s accounts if the rest of the picture is strong. If you’ve just gone self-employed, you’re not locked out of the market; you just need a broker to find the right lender. Sole Traders- How Income Is Calculated For sole traders, lenders typically take your net profit after expenses (as shown on your SA302). If you’ve been in business 2+ years, most lenders take an average of the last two years. If year two is lower than year one, they may use the lower figure. If you’ve aggressively expensed to reduce your tax bill, your mortgageable income looks

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Essential Documents You Need for a Mortgage Application

Remortgaging Explained: When to Do It, Why It Matters, and How Much You Can Save

Your fixed rate ends in six months. What happens next is one of the most expensive financial decisions most UK homeowners make, and one of the least planned for. Remortgaging — switching lenders, switching products, or simply negotiating a new rate — can save thousands, or cost thousands if handled poorly. Here’s how to get it right. What Happens If You Do Nothing When your fixed rate ends, your mortgage drops onto your lender’s Standard Variable Rate (SVR). SVRs in 2026 typically sit 2–4% higher than the best fixed rates on the market. On a £200k mortgage, that can be £200–£500 extra per month. Millions of UK homeowners quietly pay this ‘lazy tax’ every year. Don’t be one of them. The Six-Month Window Most lenders let you secure a new rate up to six months before your current deal ends. This is a no-risk window- if rates drop further, you can switch to the better deal; if they rise, you’ve locked in today’s pricing. Six months out is exactly when your broker should be in touch, and if your broker isn’t calling, switch brokers. Product Transfer vs Full Remortgage A product transfer means staying with your existing lender and switching to a new rate they offer you. It’s quick, with minimal paperwork and no legal fees. A full remortgage means moving to a different lender entirely- more admin, usually free legal work and free valuation included by the new lender, and almost always a better rate. A broker compares both

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Assumptions

In order to create these results, we have had to make a few assumptions:

1) Interest is charged monthly.

2) Interest rate stays the same over the term.

3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.