Self-Employed Mortgages

At Family Building Society, we take a flexible approach to all our mortgage customers, including those who are self-employed. Whether that be sole traders, Ltd Company Directors or those in a Partnership, we are keen to help. Every single mortgage application is reviewed by a real person (no "computer says no" here!) so we can even help with the most complex of cases.

Below you will find helpful information to help you with the self-employed mortgage process.

When am I considered self-employed?

If you currently own 20% share or more in a business that contributes to the majority of your income then you are considered self-employed.

What sources of income will you consider?

• Two years of your trading history when looking at affordability
  
• Last year’s SA302 or online HMRC Self-Assessment Return or the latest audited accounts rather than the average
  
• Multiple companies and multiple income streams
  
• For limited companies, if you have a 33% or more, financial stake in the business, we will consider your proportion of profit after tax plus your salary. 

How do I apply?

• Step 1 - Start by contacting our New Business Team on 03330 140140 or by using the Call Me Back form. They’ll go over some basic information with you including how much you would like to borrow and what for. They’ll need to know about your income and outgoings to make sure you can afford the mortgage and they’ll check that the mortgage meets our lending criteria.
• Step 2 – After our New Business Team have reviewed your circumstances, they’ll refer you to our Mortgage Advice Team who will go through your circumstances in detail and recommend a suitable product. This advice is free of charge from our in-house team, or you can choose to use your own adviser (they might charge you for this).
• Step 3 – Submit your application along with any supporting documents (there is a list of what’s required on our application form) and the £175 Application Fee along with any valuation fee which may apply. There will be further fees associated with the product selected.
• Step 4 – Once the application has been assessed a valuation will be carried and then it will be underwritten and we will provide you with a Mortgage Offer. A copy of this will also be given to your nominated Solicitor who will contact you with some forms to be completed.
• Step 5 – Once your nominated Solicitor has carried out the necessary searches and received the forms back from you we can arrange to send you the funds (this is called “completion”).

Any questions?

If you have any questions and are unsure what mortgage product would be suitable for you, you can arrange an appointment or speak to a New Business Representative. You can get in touch in the following ways: 

Email us Call us on 03330 604 621 Request a call back