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Can I get a mortgage if I’m self-employed?

And what does it take?

Image: Shutterstock/Flamingo Images

YES, YOU CAN get a mortgage if you’re self-employed, but the process may be a bit more complicated compared to other buyers. You’ll need to provide extra documentation to the lender and your finances will come under greater scrutiny.

“It’s a bit more difficult when you’re self-employed because you have to show two to three years of audited accounts – so if you’ve just set up a new company forget about applying for a mortgage,” says John Lowe of The Money Doctor.

As well as the financial accounts, you’ll need to submit six months of personal and business bank statements, and three years of revenue assessments and tax clearance certificates.

The lender may also request a letter from your accountant to vouch for your profitability, and you might want to include a summary explaining your job or business, and details of any ongoing or upcoming contracts you may have.

About the author:

Sarah Harford

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