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Are you self-employed, a contract worker or receiving complex income and looking for a mortgage?

According to a recent survey from Pepper Money, 80% of self-employed people say that their self-employment makes getting a mortgage more difficult. This needn’t be the case and there are plenty of options available to self-employed applicants and contractors. There are well over 4million self-employed workers in the UK, so many lenders are certainly looking to improve what they can offer.

At Ingard, we will do the hard work of searching the whole of the market, to find the most suitable deal for you and your individual circumstances. Some of the main issues self-employed applicants face, is understanding how a lender will assess their income and which figures they will use, as well as the minimum trading time required. Each lender has their own criteria and income requirements, which can differ for Limited Companies, Partnerships and Sole Traders, so this can be confusing. We have access to lenders who assess income in a variety of ways, such as averaging the last 2 years, taking the latest years’ figures, or accepting just 1 year of trading. The actual figures taken also differ lender by lender e.g., salary and dividend, or salary and net-profit, allowing us to find the most favourable lender to achieve the loan amount you need. Some of these lenders aren’t available to customers directly.

44% of self-employed people say their income has increased in the last year compared to the previous 2 years. It may be that you’ve had a dip in income one year, due to the Pandemic or a life event such as taking time off for parental leave. Having access to lenders who are willing to have a conversation and understand the reasons for changes in income, and take a common sense approach rather than “computer says no” is vital. We have contacts at each lender, who we can discuss the application with prior to submission, to avoid wasting any time.

Often, applicants may be earning enough to afford the monthly mortgage payments, but it may be from multiple sources, difficult to evidence or not quite fit the tick boxes for high street lenders. Perhaps your income varies by season, you have a high level of commission, work through an agency, or aren’t paid in sterling. Due to the cost-of-living crisis, more and more people are taking on additional jobs for extra income. We can help find the right solution for you, help you collate the evidence/documents needed, and take the stress out of the search for a mortgage.

You may not be aware, that there are also a variety of products aimed at those working in certain professions which can mean a higher loan amount is available, including Hero Mortgages for Doctors, Nurses, Firefighters etc., professional mortgages and products for teachers.

According to research from the lender TML, over a quarter of adults (28%) with non-typical income streams, including self-employed applicants, have had a mortgage application rejected. This is a significant percentage, and really highlights the importance of seeking help from a mortgage adviser. Of course, your complex income maybe combined with other potential stumbling blocks, such as an unusual property type or credit blips. We can help find a lender who will accept your whole scenario.

If you are self-employed, have complex income or multiple income streams and would like to see if we can help you, don’t hesitate to get in touch.

Contact us on 01702 538800 or email

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