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Joint Mortgage Self-Employed (Part 1)
Jo Evans explains how a joint mortgage works if you are self-employed. Episode one of two, recorded in June 2025.
Can I get a joint mortgage if I’m self-employed? How does being self-employed affect your eligibility for a joint mortgage?
Generally, yes, you can get a mortgage if you’re self employed. Most lenders will want to look at two years’ history of your self-employment.
What documentation is typically required for self-employed individuals applying for a joint mortgage?
The majority of lenders would look at the last two years’ SA302 tax calculations, which are submitted once you’ve done your tax returns, along with the tax year overviews which show the tax paid. They’re all available on the HMRC website or from your accountant.
Some lenders will also want two years’ audited business accounts, and possibly three months’ business bank statements.
Are there any specific requirements or restrictions for self-employed applicants considering a joint mortgage?
Not really. It just goes back to that two years’ history. Two years is a good benchmark for the self-employed, although some lenders are more flexible and will look at one year.
If anything’s changed within that time, speak to your mortgage advisor – we can guide you.
How can self-employed individuals improve their chances of being approved for a joint mortgage?
A simple one is keeping up to date with your tax returns and your business accounts. Make sure your tax is paid on time and that you’ve got the latest year’s tax returns available.
The two year history falls into this, so try and make sure you have that. And, for everybody, make sure you make all your monthly payments and commitments on time – things like your rent, loans and finance.
Can self-employed applicants include their spouse or partner in a joint mortgage application?
In a nutshell, yes. One or both of you can be self-employed or employed, or one doesn’t have to be working – it’s all down to individual circumstances.
Are there any additional considerations for self-employed individuals when applying for a joint mortgage compared to employed individuals?
The main thing is the two years’ history of self-employment – there’s no other main difference.
What are the advantages and disadvantages of applying for a joint mortgage as a self-employed individual?
A joint mortgage increases your borrowing power. There’s the potential to borrow more by including two incomes, whether you’re self-employed or employed.
There aren’t really any disadvantages with a joint mortgage, other than any issues with the other person’s credit. It’s a good thing to do, if it’s right for you.
How can self-employed individuals navigate potential challenges or obstacles when applying for a joint mortgage?
Using a mortgage broker can really help you secure the most suitable deal for you, because it’s not a case of one-size-fits-all.
A mortgage broker will research all the lenders available, and find the one that meets your income, your affordability and your preferences.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
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Joint Mortgage Self-Employed (Part 2)
Jo Evans continues the conversation on joint mortgages and the self-employed. Episode two of two, recorded in June 2025.
What factors do lenders take into account when assessing the affordability of a joint mortgage for self-employed applicants?
This applies in every application, whether you’re self-employed or employed. Lenders will look at the income and outgoings, which will include any debts that are continuing and childcare costs.Are there any specific types of joint mortgage products designed for self-employed individuals?
No, not really. It’s a case of whether you’re self-employed or employed, and your individual circumstances in terms of the products available to you. There’s nothing specifically for the self-employed.Can self-employed applicants benefit from any government schemes or initiatives when applying for a joint mortgage?
Yes – it’s exactly the same whether you’re self-employed or employed. It’s all about whether you qualify for them. With things like shared ownership, Help to Buy and any local schemes, it will be down to the providers of those and their requirements. As long as you qualify for them, you’re fine.What should self-employed individuals know about the income assessment process for a joint mortgage application?
It’s slightly different depending on whether you’re a sole trader or a limited company. For both, most lenders will take an average of the last two years’ income. However, if the most recent year is lower, that’s the figure that would be used.For sole traders, it’s based on net profit. For limited companies, it can be a combination of the director’s salary and dividends or net profit. Each lender is slightly different as to how they calculate it, but that’s the general rule of thumb.
How does the length of self-employment history impact the likelihood of being approved for a joint mortgage?
Two years is a good guideline. It’s not always the case, so speak to your mortgage advisor, but it’s best to aim for two years if you can.Are there any self-employed-friendly lenders or mortgage brokers you would recommend for joint mortgage applications?
The majority of lenders will look at both the self-employed and employed for a joint mortgage, and the same for mortgage brokers.Some brokers may be more specialist, but that’s where you do your research. The majority will look after you no matter what.
Can self-employed applicants include income from multiple sources in a joint mortgage application?
Yes. People might receive child benefit, universal credit, a pension or disability living allowance, or they might have a self-employed job on the side. All of that can be taken into account. Again, it’s all down to the lenders in terms of what they will and won’t take.You’ve demonstrated how a mortgage broker can help throughout both episodes, but do you have any final thoughts?
A mortgage advisor will go through everything with you. We gather all the information around your circumstances and your finances, then do the research and come back with a recommendation.It could be a high street lender or a more specialist provider, but that recommendation will be based on your circumstances, your own individual preferences and the lender’s suitability. It’s not one-size-fits-all.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
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Fort Advice Bureau is a directly authorised, independent, Mortgage and Protection brokerage which is simply the best way to operate. We are looking for experienced mortgage and protection advisers across the UK, to become part of our business. You will already be self-employed or looking to become such, no monthly fees, and a competitive flexible package. We are an easy-going and friendly firm which you can confirm by asking any one of our advisers.
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