Self Employed & Contractor Mortgage Aberdeen
Whole-of-market advice for self-employed people, company directors and contractors in Aberdeen and across Aberdeenshire. We take time to understand how you earn, then find a lender that can see your full financial picture.
Free first consultation, no obligation
1Y
Of accounts may be enough with the right lender
3X
Prestige Award winner, three years running
£0
Initial consultation is FREE with no obligation
FCA
Appointed representative.
Self employed mortgage advice in Aberdeen
Your income is different. Your mortgage advice should be as well.
Working for yourself brings freedom, but it can also make a mortgage application feel less straightforward. Lenders don't all interpret company accounts, tax calculations or contractor income in the same way.
At Prestige Mortgage Solutions we begin with the detail. We look at how your income is structured, how long you've been trading and what you want to do next, then explain which mortgage options may suit you.
How lenders read your income
Four ways of working, four different calculations
How you trade determines which figure a lender starts with. Here's what most lenders look for, and where the detail tends to count.
Sole trader
Most lenders base their calculation on the net profit shown in your SA302 tax calculations, typically averaging the last two years, or using the latest year if it's lower. Some will consider a single year's figures if your trading record is strong.
Limited company director
Salary plus dividends is the usual approach, but a smaller group of lenders will use salary plus your share of retained profit. If you leave money in the business, that difference can change how much you're able to borrow.
Day rate contractor
Several lenders assess contractors on the current contract rather than company accounts, annualising the day rate over a set number of weeks. Length of contract, renewal history and gaps between contracts all get looked at.
CIS, umbrella and partnerships
Construction workers paid under CIS, contractors inside IR35 working through an umbrella company and partners taking a profit share are each treated differently. Choosing the right lender first time helps you avoid an unnecessary credit search.
Before we speak
What to have ready
None of this is essential for a first chat. Having it ready simply means we can give you a firmer answer sooner.
☑ Two years of SA302 tax calculations and tax year overviews
☑ Finalised accounts, or a projection from your accountant
☑ Your current contract and a note of any renewals, if you contract
☑ Three months of business and personal bank statements
☑ Deposit details, including any gifted funds
Buying in Scotland
What's different about an Aberdeen mortgage?
Scotland has its own tax, its own offer process and its own survey. Self employed buyers have a little more to organise before an offer goes in.
LBTT, not Stamp Duty
Scotland charges Land and Buildings Transaction Tax, with thresholds that differ from the rest of the UK. We confirm the current figures against your budget so you know from the start how much cash you'll need.
The Home Report
Scottish sellers provide a Home Report containing a surveyor's valuation. Lenders read it closely, and how the valuation compares with the asking price can change how much you can borrow.
Closing dates move fast
Well-priced homes in sought-after areas such as Ferryhill, Rosemount and Cults can still go to a closing date. Self employed income takes longer to evidence, so having an agreement in principle in place beforehand is important.
How it works
From first conversation to keys in hand
Step 1
Free consultation
A no-obligation chat about how you trade, what you earn and what you'd like to buy.
Step 2
Income review
We go through your accounts and contracts and work out the figure lenders will use.
Step 3
Agreement in principle
So you can offer with confidence in Glasgow, even against a closing date.
Step 4
Whole-of-market
From high-street names to contractor specialists, then a clear recommendation.
Step 5
Application to keys
We manage the lenders, solicitors and estate agents right through to completion.
Why US?
Why choose Prestige Mortgage Solutions?
We aim to give you more value than the typical mortgage broker, and we leave no stone unturned.
- Advice built around how you actually trade, not a generic template.
- Whole-of-market access, including contractor and self employed specialists.
- We speak to your accountant where it helps your case.
- Phone or video appointments that fit around your working day.
- We manage lenders, solicitors and estate agents through to completion.
- Free first consultation and a no-obligation quote.
Aberdeen and surrounding areas
Where we help self employed clients
We help clients across Aberdeen, Aberdeenshire and the surrounding areas, with phone and video appointments available wherever you are in the UK.
⚲Ferryhill ⚲Rosemount ⚲Old Aberdeen ⚲Torry ⚲Cove Bay ⚲Cults ⚲Bieldside ⚲Mannofield ⚲Bridge of Don ⚲Dyce ⚲Kingswells ⚲Westhill ⚲Portlethen ⚲Stonehaven ⚲Ellon ⚲Inverurie ⚲Peterculter
Don't see your area? Call us, as we cover the whole of the UK.
What our clients say
"Chris was very helpfull all the way from the start with the mortgage process. Nothing was too much trouble, he keeps me up to date with information from the lender all the way. I highly recommend Chris from prestige mortgage solutions. Thank you Chris."
Ademola Abass
"Can’t thank Chris enough for his help, knowledge and skills in organising my mortgage for me just great work!! Brilliant to deal with!! I can thoroughly recommend him and prestige mortgage solutions!!!"
Martin Considine
"I was recommended prestige mortgages through a colleague and they were absolutely brilliant.
Chris McCann contacted me near enough every day with out dates and got my mortgage sorted very quickly."
Ross Campbell
FAQs
Self employed mortgage questions, answered
Not sure where you stand? A short conversation usually swaps a general answer for one that fits your figures.
Can contractors get a mortgage in Aberdeen?
Yes, many contractors can qualify for a mortgage. Some lenders assess your income differently, including by using your contract rate or contract history, depending on your circumstances.
Can I get a bad credit mortgage in Aberdeen?
It may still be possible to get a mortgage in Aberdeen even with a poor credit history. What's available will depend on your individual circumstances, your income, your deposit and the type of credit issues you've had.
How many years of accounts do I need for a self-employed mortgage?
This depends on the lender. Many prefer to see at least two years of accounts or tax returns, though some may consider applicants with a shorter trading history.
Which documents do I need to apply for a self-employed mortgage?
You may need SA302 forms, tax year overviews, business accounts, bank statements and proof of identity. The exact requirements vary between lenders.
How can a mortgage broker help self-employed people and contractors?
A broker can help identify lenders that understand self-employed and contractor income, compare suitable mortgage options and guide you through the application process.
Can I get a mortgage if my income is irregular or varies?
It may still be possible. Lenders will look at your income history and may consider how stable and sustainable your earnings are over time.
Let's work out what your income can really borrow
Tell us how you trade and we'll explain the options that may be open to you. No pressure and no obligation, just straightforward advice from an experienced broker.