Self certification mortgages no longer exist
In the past, self certification mortgages were commonly used by self employed applicants. These products allowed borrowers to state their income without providing full proof.
While originally intended to help a small number of self employed people with complex income, these mortgages were widely abused and were eventually banned.
Today, all mortgage applications — employed or self employed — must be supported by verified income evidence.
Is there a specific “self employed mortgage”?
In short, no.
There is no separate category of mortgage product for the self employed. If you meet a lender’s income and affordability criteria, you can access the same rates and products as employed applicants.
The difference lies in how your income is calculated and assessed.
How lenders assess self employed income
Lenders take different approaches depending on your business structure.
- Sole traders — typically assessed on net profit
- Partnerships — share of profits
- Limited company directors — salary and dividends, or retained profit in some cases
Some lenders average income over two or three years, while others may use the most recent year if it shows sustainable growth.
How many years’ accounts do you need?
This varies by lender.
- Some require three full years of accounts
- Many will accept two years
- In certain circumstances, one year may be considered
The strength of your application depends not just on how long you’ve been trading, but on consistency, stability, and how the figures are presented.
What documents are usually required?
- Certified accounts or SA302s and tax year overviews
- Business bank statements
- Personal bank statements
- Confirmation of ongoing contracts or work (where relevant)
Missing or incorrectly prepared documentation is one of the most common reasons self employed applications are delayed or declined.
Why lender choice matters
Each lender applies its own rules when assessing self employed income.
- Some are more flexible with retained profits
- Others prefer longer trading histories
- Some are cautious around certain industries
Because criteria changes frequently, applying to lenders at random can be time-consuming and risky.
If you’ve already been declined
A decline from one lender does not mean all lenders will say no.
However, repeated failed applications can leave unnecessary footprints on your credit file. Before applying again, it’s important to understand why the decline occurred and whether another lender is genuinely more suitable.
Why professional advice helps
Self employed mortgage applications are rarely “one size fits all”.
A mortgage broker experienced in self employed cases can:
- Identify which lenders are most appropriate for your circumstances
- Present income in the way underwriters expect
- Avoid unnecessary applications and credit searches
- Set realistic expectations from the outset
If you’re self employed and considering a mortgage, getting advice early can significantly improve both speed and success.