Yes — but you’ll need to prove income in a way that lenders trust.
Being self-employed as a sole trader doesn’t mean you can’t get a mortgage. But you’ll need to show lenders your income is stable and reliable — and that means more paperwork than someone on PAYE.
Here’s how to improve your chances of mortgage approval as a sole trader.
📋 What Do Lenders Need from Sole Traders?
Most lenders ask for:
- 2 years of SA302s or tax calculations (some accept 1 year)
- Tax year overviews from HMRC
- A consistent or growing income year-on-year
- Proof of ID, address, and deposit (same as employed applicants)
💡 Lenders will usually take your average income over the past 2 years — or just the most recent year if it’s lower.
💷 How Much Can I Borrow as a Sole Trader?
Usually around 4 to 4.5 times your average annual net income, but it depends on:
- Your credit history
- Monthly outgoings
- Size of your deposit
- Number of financial dependents
📉 Common Pitfalls for Sole Traders
- Large gaps between tax years filed
- High business expenses lowering net income
- Mixing personal and business finances
- Only having one year of trading
✅ How to Strengthen Your Application
- File your tax returns early — lenders dislike delays
- Work with an accountant (makes your income easier to verify)
- Save a bigger deposit (10–15%+ helps)
- Keep credit usage low and bills up to date
- Speak to a broker who specialises in self-employed cases
💬 Need Help as a Sole Trader?
Getting a mortgage as a sole trader is 100% possible — but it helps to have someone on your side who knows what lenders expect. I’ll guide you through the process and help you present your case in the best light.
✅ Self-employed mortgage support
✅ Lender matching based on your income history
✅ Help with documentation and tax returns