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Self Employed Mortgage Advice in Sheffield

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Self Employed Mortgage Advice in Sheffield

Speak to a mortgage expert today for tailored self employed mortgage advice in Sheffield.

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Mortgage advice for the self employed in Sheffield

As a mortgage broker in Sheffield, we know the struggle that most self employed applicants go through in order to get accepted for a mortgage. Whether it’s a challenge to meet different lender’s criteria, or hard to prove your income, we know that it can often take more than an employed applicant to secure that mortgage offer

In reality, everyone would love to be treated the same going into the mortgage journey, however, lenders need to be certain that you, as a self employed person, can afford a mortgage. They will look at factors such as:

  • Your income/salary.
  • Your previous years of accounts.
  • Business operating costs and expenses.
  • Bank statements.

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Self Employed Mortgage Advice in Sheffield

1000s of self employed mortgage products

Our mortgage advisors in Sheffield are here to help you secure you a self employed mortgage product that is best suited to your scenario.

We will provide our full support and guidance throughout the whole mortgage process, giving you advice and helping you back up your application by referencing your income and years of accounts’.

Providing expert mortgage advice in Sheffield, we can access 1000s of competitive self employed mortgage products. Once we find the perfect deal for you, if you want to continue with it, we can start preparing your mortgage application.

Our advisors work 7 days a week to make sure that you can get in touch at a time that suits you best. Take advantage of our free self employed mortgage consultation today.

How is my income assessed as a Self Employed applicant?

Lenders assess the income of self-employed individuals differently compared to salaried employees. They typically consider your average annual income over a specific period, often the past two to three years.

To get a complete affordability assessment, reach out to our expert mortgage advisors in Sheffield. During your free mortgage appointment, they will be able to carry out this assessment and determine how much you could borrow for a mortgage in Sheffield based on your earnings.

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FAQ's From Self Employed Applicants

How many years on the books do I need?

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The number of years you need on the books for a self employed mortgage can vary depending on the lender’s requirements. However, most lenders typically look for at least two to three years of financial records, such as tax returns or company accounts, to assess your income stability and eligibility for a mortgage. Some may accept just one year of accounts, but this could limit your options and affect the terms of the mortgage.

I’m a Director of my own Limited Company

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When applying for a mortgage, even as a director of your own business, you are considered an employee. To qualify for assessment, most lenders will require that you own less than 25% of the shares in the company. Lenders combine the dividends drawn with your annual salary to calculate your overall yearly earnings, which then determines the maximum borrowing amount.

However, there are other lenders who base their calculations on net profit rather than dividends or salary. This approach can be beneficial for directors who keep their drawings relatively low.

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Our Simple 4-Step Process

Free 30-Minute Mortgage Appointment

Step 1

During this appointment, your mortgage advisor in Sheffield will look at your asessment to work out your maximum affordability.

We Can Search 1000s of Mortgage Deals

Step 2

Our team will look through 1000s of mortgage products to find the most suitable deal for your circumstances.

Submit Your Mortgage Application

Step 3

Once your purchase offer has been accepted, your mortgage advisor in Sheffield will submit your full mortgage application and evidential documents to your lender.

Protecting You and Your Mortgage

Step 4

Our service won't just stop here. We will not only secure you the best mortgage deal, we will also recommend relevant insurance to protect you.

Reasons to Choose us

Free Mortgage Appointment

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Throughout our many years within the industry, we have gained a lot of experience with helping lots of limited company owners, sole traders, partners that receive a salary, dividends or a mixture of both. We use our expert knowledge to try and find solutions for those who really need help with their mortgage.

1000s of Deals

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As mortgage advisors in Sheffield we tailor our service to the customer in question. We will always have our customers best interests at heart.

Our Service

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Lending criteria can be completely different depending on the lender, regarding self employed mortgages. Our dedicated mortgage advisors in Sheffield will always work hard to ensure that you are appropriately matched up with the most suitable lender for your personal circumstances. We always aim to get this right the very first time!

7 Days a Week

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We are able to use our mortgage market expertise to find you the most appropriate mortgage for your personal and financial circumstances.

Malcolm and Amy Davidson - Mortgage Advice in Sheffield

We Search 1000s of Self Employed Mortgages in Sheffield

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Common Self Employed Mortgage Scenarios

Self Employed Customers & Bank Mortgage Advice

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Pretty much every high street mortgage lender that comes to mind will use their in-house credit scoring policies when looking to allow customers to take out a mortgage with them. These credit scoring policies tend to be based on the mortgage lenders own experience and history during their tenure within the mortgage industry.

In doing this, they will take a look at previous mortgage repayment statistics, any information they have on repossession and other common patterns in order to determine what would be considered a high-risk when lending. This saves the lender both time and money, but unfortunately leaves many self-employed applicants 10 steps back when looking to purchase their dream home.

In years gone by, it would likely be safe to estimate that mortgage lenders have had a lot more self employed applicants fall into arrears than anyone who is a regular employee. On the flip side, it is also fair to point out that those employed applicants likely probably didn’t have as hard of a time trying to get a mortgage in the first place as self-employed applicants do.

If you’ve been doing some research, you’ll likely be aware that the vast majority of high street lenders out there have incredibly strict lending criteria, with many wanting to see your profits going up over a minimum of three years accounts, with some taking a three year average.

Whilst these rules don’t apply to all mortgage lenders (with some only requiring one years’), it’s always better to make sure you have a handful of years to go off just in case, as this will likely increase your chance of obtaining a mortgage.

Having Mortgage Problems?

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We regularly speak with customers who for some reason have found approaching their bank directly for a mortgage to be quite challenging. Some of the reasons that we have heard for this include:

  • As a self-employed owner of a business, you are being paid a combination of either salary, dividends or a directors’ loan.
  • Your company is going through a rather hectic business period and you are in need of a trusted mortgage advisor in Sheffield to guide you throughout the mortgage process.
  • You leave the majority of your net profit sitting in your company, rather than paying yourself a salary that is larger.
  • Your business hasn’t been trading for more than one year.
  • Despite having a really great credit score, for some reason you don’t seem to match the banks’ strict lending criteria.
  • You’re a company owner, a director, a sole trader or you are a business partner, in need of self-employed mortgage advice in Sheffield.
  • The bank is limiting the amount you are able to borrow and you need to borrow more than that amount.
  • Your net profit is unsteady.


As a general rule of thumb, banks are not always the best place for self-employed mortgage applicants to go to seeking mortgage advice. These banks have automated systems and unfortunately, regardless of the length of time that you have been banking with them or the amount of money you often pay into your account, if you get declined, there’s not much more you can do with them.

It is at times like this where a mortgage broker in Sheffield can step in and see what they are able to do to help. Our dedicated team are able to match up your needs and current financial position to various lenders mortgage criteria, hopefully allowing your mortgage journey to continue.

Self Employed Applicant Scenarios

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We regularly work with a large variety of different self-employed mortgage customers, all of whom are in need of fast & friendly mortgage advice in Sheffield.

Below we have compiled a small selection of a handful of different scenarios that we have faced throughout our time as a mortgage broker in Sheffield, when speaking to applicants who are self-employed.

  • Self employed business owners like yourself, are getting paid from either a salary, dividends or a directors’ loan.
  • At the current time, your company is currently busy and you need the assistance of a Mortgage Advisor in Sheffield to guide you through the mortgage process.
  • You would rather leave most of your net profit sitting in your company, rather than choosing to pay yourself a larger salary.
  • Your company has been trading for less than one year.
  • Despite your credit score is great, you don’t seem to match the banks’ lending criteria.
  • You’re a company owner, a sole trader, a business partner or a company director, that requires expert Self Employed Mortgage Advice in Sheffield.
  • You are limited by the bank as to how much you can borrow and you need an amount that is greater than what they could offer.
  • You have an unsteady net profit.

We tend to find, banks are not best suited for self employed mortgage applicants when they are looking for Mortgage Advice in Sheffield. Because banks have automated systems and though it is unfortunate, no matter how long you have been banking with them or the amount of money that goes into your account regularly, if you get declined, that’s more or less the end of the line with that particular lender.

Situations like these are where the benefit of using a Mortgage Broker in Sheffield will be great to help and solve your mortgage queries. Our dedicated team can take the information they have accumulated on your financial position and goals, and try to find you a suitable lender whose criteria you fit.

Mortgage Guides & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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