Self-employed mortgages: what lenders need from your accounts

Mortgage lenders usually want self-employed applicants to prove income with HMRC’s SA302 tax calculations and tax year overviews, normally for at least two recent tax years, plus accounts and bank statements. Lenders base what they will lend on your taxable profit, not your turnover. The cleaner and more up to date your returns, the easier the application.

What documents do lenders ask for?

Most lenders ask for evidence that comes from HMRC or your accountant rather than from you alone. Exact requirements differ between lenders and change often, so ask your lender or broker for their list. The common items are below.

HMRC’s own guidance says lenders want a tax calculation together with a tax year overview. Our guide to getting your SA302 and tax year overview explains how to print them.

How many years of accounts do you need?

Lenders commonly ask for two years of trading figures, though some will consider one full year and others want three. No FCA rule sets a fixed number of years; each lender sets its own criteria. If you have traded for less than a year, expect fewer lenders to consider you.

GOV.UK says you can get an SA302 for the last 4 years after you have filed, so you can usually supply older years if a lender asks.

What income do lenders use?

Lenders use the income on your tax return, which is your profit after expenses, not your sales. How they treat it depends on your business type.

• Sole trader: the net profit on your self-employment pages, shown on your SA302.
• Partner in a partnership: your share of the partnership profit.
• Limited company director: often salary plus dividends from your SA302. Some lenders will instead look at your share of the company’s profit, using the company’s accounts.
• Contractor on a day rate: some lenders work from a current contract, others from tax returns. Check before you apply.

Where profit has fallen, many lenders use the lower or latest year. Where it has risen, some take an average. Ask your broker how each lender treats a changing figure.

Why your expenses matter

Every allowable expense you claim lowers your taxable profit, and so the income a lender sees. This is a fair trade, since you pay less tax, but it can cut what you can borrow. Do not stop claiming genuine costs to look better on paper: you would pay more tax, and lenders look at the trend over several years anyway. See our list of sole trader expenses and, for company owners, allowable expenses for limited companies.

Our self-employed take-home pay calculator shows your profit after tax and National Insurance.

Checklist before you apply

1. File your latest return early. The 31 January deadline is too late if you are buying in the new year. See Self Assessment deadlines.
2. Wait 72 hours, then print each year’s SA302 and tax year overview from your HMRC account.
3. Check the figures match across the SA302, overview and accounts.
4. Pay any tax due. A balance owing on the tax year overview may raise questions.
5. Keep business and personal banking separate, so statements are easy to read.
6. Ask your accountant whether they can give a reference if the lender needs one.
7. Gather three to six months of bank statements, or whatever period the lender asks for.

What the FCA is changing

The Financial Conduct Authority is reviewing its mortgage rules, partly to help people with irregular earnings. Its consultation CP26/18, published on 9 June 2026 and closed on 28 July 2026, lists “variable and irregular income” as one of six areas. The FCA’s press release says the aim includes “reducing barriers for lenders to offer flexible repayments for people with variable income, like the self-employed.”

The FCA says it will publish a policy statement “by the second half of 2026”. At the time of writing (6 November 2026) we had not seen it. The proposals do not remove a lender’s duty to check that a mortgage is affordable, so you will still need evidence of income.

Which applies to you?

• Two or more years of returns filed: most mainstream lenders will look at your case.
• One year filed: a smaller group of lenders may consider you; a broker who knows self-employed cases can help.
• Recently moved from employment to self-employment in the same line of work: some lenders take this into account. Ask.
• Just switched from sole trader to limited company: your old returns still count. Keep both sets of figures. See sole trader vs limited company.

Frequently asked questions

Can I get a mortgage if I am self-employed?

Yes. Lenders lend to self-employed people, but they need proof of income, usually SA302s and tax year overviews for recent years.

Do lenders want two or three years of accounts?

It depends on the lender. Two years is common, some accept one and some ask for three. There is no single FCA rule setting the number.

Do lenders use my turnover or my profit?

Lenders use your taxable profit, which is your income after allowable expenses, as shown on your tax return and SA302.

Can my accountant print my SA302 for a lender?

Yes. HMRC’s lender list covers SA302s printed by you, your agent or your accountant. Check that your lender is happy with self-printed copies.

Is the FCA changing the rules for self-employed mortgages?

The FCA consulted in CP26/18 from 9 June to 28 July 2026 on changes for people with variable income. It expects to publish final rules by the second half of 2026.