Published 24 October 2016 · Last reviewed 25 February 2017 · Older article — see current rates
Accountant to get a Mortgage
No, most Mortgage Lenders appreciate that many self-employed applicants use the self assessment process to make a tax return to HRMC off their own steam. The document they will request to verify income is called a Tax Calculation (SA302) and depending on the Mortgage Lender they may also ask for the accompanying Tax Overview. If you are stuck on how to obtain these Niche Advice will provide guidance to customers of ours.
For more information on what documentation is needed for a Mortgage if your self employed please click here.
Lender criteria for self-employed applicants vary materially by trading structure (sole trader, partnership, limited company), length of trading history (one, two or three years of accounts), how income is taken (salary, dividends, retained profit), and the lender's individual underwriting approach. Some lenders consider retained profit in a limited company; many do not. Some lenders accept one full year of accounts; many require two or three. This article describes general industry practice as at the date shown above the title; it is not a statement of any individual lender's current criteria and is not regulated advice. Speak to a qualified Niche Advice adviser, who will assess your specific trading structure and accounts before recommending any product.


