Self Employed & Contractor Mortgage Barnet
Whole-of-market advice for self-employed people, company directors and contractors in Barnet and across North London. We take the time to understand how you earn, then find a lender who can see your full financial picture.
Free initial 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 Barnet
Your income looks different. Your mortgage advice should reflect that.
Working for yourself brings freedom, but it can make a mortgage application feel more complicated than it should. Lenders don't all interpret company accounts, tax calculations or contractor earnings in the same way.
At Prestige Mortgage Solutions we start with the detail. We look at how your income is structured, how long you've been trading and what you'd like 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 decides which figure a lender begins with. Here's what most lenders look at, and where the detail tends to matter.
Sole trader
Most lenders base their assessment on the net profit shown in your SA302 tax calculations, usually averaging the last two years, or using the latest year if it's lower. Some will accept a single year's figures where your trading record is strong.
Limited company director
The common method is salary plus dividends, but a smaller group of lenders will use salary plus your share of retained profit. If you leave profit in the business, that difference can affect how much you can borrow.
Day rate contractor
Several lenders assess contractors on their current contract instead of company accounts, turning the day rate into an annual figure over a set number of weeks. They also consider the contract's length, its renewal history and any gaps between contracts.
CIS, umbrella and partnerships
Construction workers paid under CIS, contractors inside IR35 working through an umbrella company and partners drawing a share of profit 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 conversation. Having it ready simply lets us 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 a Barnet mortgage?
Property prices in Barnet are higher than the national average, and self employed buyers have a little more to line up before making an offer. Here are the main points to plan for.
LBTT, not Stamp Duty
An accepted offer isn't legally binding until contracts are exchanged, so sellers tend to favour buyers who are ready to proceed. Self employed income takes longer to evidence, so having an agreement in principle in place beforehand is important.
The Home Report
There's no Home Report in England. Your lender carries out its own valuation, and how it compares with the price you've agreed can change how much you can borrow. We recommend an independent survey too, and we explain how each could affect your plan.
Closing dates move fast
An accepted offer isn't legally binding until contracts are exchanged, so sellers tend to favour buyers who are ready to proceed. 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, your income and what you want to buy.
Step 2
Income review
We work through your accounts and contracts and calculate 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, followed by 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 want to give you more value than the average mortgage broker, leaving no stone left 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.
Barnet and surrounding areas
Where we help self employed clients
We help clients across Barnet, North London and the surrounding areas, with phone and video appointments available wherever you are in the UK.
⚲Chipping Barnet ⚲New Barnet ⚲East Barnet ⚲Friern Barnet ⚲Cockfosters ⚲Whetstone ⚲Totteridge ⚲Arkley ⚲Oakleigh Park ⚲Underhill ⚲Brunswick Park ⚲New Southgate ⚲Mill Hill ⚲Finchley ⚲Hendon ⚲Colindale ⚲Edgware ⚲Hadley Wood ⚲Potters Bar ⚲Borehamwood
Not listed? Call us — we cover the whole of the UK
What our clients say
"Chris and the team were fantastic to deal with, keeping us in constant contact throughout the process through to a successful completion in a short time. Any issues or queries we had were dealt with immediately and correspondence was clear and thorough....."
John Costello
"We cannot recommend Chris at Prestige Mortgage Solutions highly enough. From our very first conversation, he took the time to fully understand our situation and never once made us feel that our circumstances were a problem."
Lewis Ritchie
"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
Still unsure where you stand? A short conversation usually replaces a general answer with one that fits your figures.
Can I get a bad credit mortgage in Barnet?
It may still be possible to get a mortgage in Barnet 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.
Can contractors get a mortgage in Barnet?
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.
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.
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.
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.
Let’s work out what your income will actually 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.