Your bank said no.
The right lender won't.

Yes, and in most cases at exactly the same rates as someone in employment. There's no special "self-employed mortgage" product with worse terms. The difference is purely in how your income is evidenced and assessed, and that varies a lot between lenders. The right preparation and the right lender choice is what makes it straightforward.

From the net profit declared on your self-assessment tax returns, usually evidenced by your SA302 tax calculations and tax year overviews from HMRC. Most lenders want two years and will either average them or use the latest year if it's lower. Some lenders will consider just one year of accounts in the right circumstances.

The key point: it's your declared net profit that counts, not your turnover and not what flows through your bank account.

This is where lender choice matters most. Some lenders treat CIS subcontractors like any other self-employed person and use the net profit on your tax return. But others will use your gross CIS income, the figure before the 20% deduction, evidenced by your CIS statements or payslips and typically covering the last 12 months.

For most CIS workers, gross income is far higher than declared net profit, so being placed with a CIS-friendly lender can substantially increase what you can borrow.

Not necessarily, and often you shouldn't be. Several lenders will assess contractors on their annualised day rate (your rate multiplied across a working year) rather than your accounts. If your accountant keeps your declared income low for tax efficiency, the day-rate route can produce a dramatically higher income figure and therefore a much larger mortgage.

Lenders look at things like time remaining on your current contract, your contracting history, and gaps between contracts, so having your paperwork in order really helps.

It can be. This is the single biggest issue I see. Lenders lend against the income you declare to HMRC, so minimising your declared profit also minimises your mortgage. Great for your tax bill, terrible for your borrowing power.

If you're planning to buy in the next year or two, speak to me before your accountant files your next return. Sometimes a modest increase in declared income is worth several times that amount in extra borrowing, and for CIS and day-rate workers there are routes that sidestep the problem entirely.

If you own a significant share of the company (typically 20 to 25% or more), lenders treat you as self-employed. Most use your salary plus dividends over the last two years. But some lenders will instead use your salary plus your share of the company's net profit, which is often a much higher figure if you retain profit in the business rather than drawing it all out.

Two lenders can look at the same company accounts and reach wildly different maximum loans. This is exactly the kind of case where broker knowledge pays for itself.

Two years is the standard most lenders want. But a growing number will consider one year of accounts, particularly if you previously worked in the same trade as an employee before going self-employed, because career continuity counts in your favour. A strong accountant's projection letter helps a one-year case enormously.

It depends on how you're set up, but as a rule of thumb:

Sole traders: last 2 years' SA302 tax calculations and tax year overviews (free from your HMRC online account or your accountant), 3 months' personal and business bank statements, proof of deposit, ID and proof of address.

Limited company directors: the above plus your last 2 years' company accounts and, for many lenders, an accountant's letter.

CIS workers: typically 12 months of CIS statements or payslips plus bank statements.

Day-rate contractors: your current signed contract, evidence of contracting history, and bank statements.

Getting your SA302s downloaded before we speak saves the most common delay in the whole process.

You can buy with as little as 5% deposit in many cases. Being self-employed doesn't change the minimum. That said, a bigger deposit opens up more lenders and better rates, and gives an underwriter more comfort on a complex-income case. If you're between 5% and 25%, it's worth a conversation about whether waiting and saving or buying now serves you better. The answer is different for everyone.

Nobody is forced to take protection, but think about what actually happens if you can't work. As a self-employed tradesman there's no sick pay and no employer cover. If an accident or illness stops you working for six months, the mortgage still wants paying. Income protection covers exactly that. Critical illness cover pays a lump sum on diagnosis of a specified serious illness, and life insurance clears the mortgage for your family if you die.

I review protection with every client as part of the mortgage conversation, tailored to your circumstances and budget, so you can make an informed decision rather than leaving it to chance.

Talking to me costs nothing and touches nothing. I check lender criteria and affordability before any application is made, and a decision in principle can usually be done with a soft check that doesn't affect your score. What genuinely damages credit files is firing applications at the wrong lenders and collecting declines, which is exactly what the right preparation avoids.

The big ones: get your SA302s and tax year overviews downloaded early; keep personal and business banking separate; check your credit report with all three agencies and fix any errors; get on the electoral roll; avoid new credit in the months before applying; keep evidence of contracts and work pipeline if you're a contractor; and talk to a broker before your accountant files your next return, not after.

It's free and there's no obligation. You tell me how you're set up and what you're trying to do; I tell you honestly whether it's achievable, roughly what you could borrow, and exactly what to prepare. If I can't help, I'll say so. REF Capital LLP charges a broker fee of up to 1% of the mortgage amount, payable only when the lender issues your mortgage offer. You'll have the exact fee confirmed in writing before you commit to anything.