Self Employed Mortgages

For self-employed customers, the Society will work closely with the customer's accountants and consider various sources when assessing income. Retained earnings and one-off items can be added back into the income figures where relevant and other provable sources of income can be used to calculate the customer's true income. The Society does not just look at drawings when assessing the customer's income.

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We are the ‘go to’ self-employed mortgage lender

If you would like to discuss how the Society is the ‘go to’ lender for mortgages for those who are self-employed and how we can assist those who are self-employed with their mortgage needs, please contact us and your local mortgage manager will be able to talk through the case with you.

Mortgages for the Self Employed

Maybe you're self-employed but discovering that nobody understands your income. Obtaining a mortgage when you’re self-employed doesn't need to be challenging.

Getting A Mortgage When You’re Self Employed

If you are self-employed, you may feel a little apprehensive about applying for a mortgage. Don't be concerned, it's possible to work for yourself and get a mortgage for a new or existing property. You might simply need to provide a little more information to demonstrate that you can keep up to date with your monthly repayments.

Mortgage Advice for Self Employed Business Owners

We appreciate that not everyone’s finances are straight forward. So regardless of whether you run a limited company, are a partner in a partnership or are a sole trader, Swansea Building Society will look at the overall picture.

Our team of experts evaluate each mortgage application on its individual merits and use a common-sense approach to understand everyone's different circumstances.

We work with business owners and entrepreneurs of all types and sizes to make getting a mortgage effortless.

Am I Self Employed?

If you're a business owner, or you work for yourself, then you may very well be self-employed.

You are most likely to be self-employed if you're:

  • Sole trader - You work on your own, retain your profits and are solely accountable for your business
  • A partner in a Partnership
  • Hold at least a 25% of issued share capital of a Limited Company / Limited Liability Partnership

How Are Self Employed Mortgages Different to Ordinary Mortgages?

It's important to understand that there isn't actually a special ‘self-employed mortgage’ product. You will in fact be applying for the exact same mortgage as anybody else.

The main difference is that the Society will require additional, more specific documentation to.

However, the society needs to obtain certain other documents to allow us to be assured that you can afford to borrow the money you require to buy a property.

Self Employed Mortgage Criteria

As with any mortgage application, you’ll need to provide some documents

Here is an outline of the documents required, however due to every scenario being unique, further documentation maybe sought. we might need to ask you for other documents.

  • Bank details
  • Evidence of a regular income and bank statements
  • Tax-year overview for the past three years or SA302 forms
  • Evidence of the business trading performance over the last three years.

Local Mortgage Manager

Please contact your local mortgage manager today for more information.

Alternatively, please complete the call me back page and one of our mortgage managers will contact you.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.