Self Employed & Contractor Mortgage Dundee
Independent, whole-of-market advice for self-employed people, company directors and contractors in Dundee and the wider Tayside area. We take the time to understand how you earn, then find a lender who can see the whole 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 Dundee
Your income works differently. Your mortgage advice should too.
Running your own business gives you freedom, but it can make applying for a mortgage feel more complicated. Lenders don't all treat 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 set up, how long you've been trading and what you're hoping to do next, then explain which mortgage options could suit you.
How lenders read your income
Four ways to work, four different calculations
The way you trade decides which number a lender begins with. Here's what most lenders look at, and where the small print tends to matter.
Sole trader
Most lenders use the net profit from your SA302 tax calculations, usually averaging the last two years or taking the most recent year if it's lower. A few will look at one year's figures when your trading record is strong.
Limited company director
The usual approach is salary plus dividends, but a smaller number of lenders will take salary plus your share of retained profit. If you keep money in the business, that difference can alter how much you can afford to borrow.
Day rate contractor
Several lenders judge contractors on their current contract rather than company accounts, turning the day rate into an annual figure over a fixed number of weeks. They also consider how long the contract runs, how often it's been renewed and any gaps between contracts.
CIS, umbrella and partnerships
Construction workers paid under CIS, contractors caught by IR35 who work through an umbrella company and partners drawing a share of profit are each assessed differently. Finding the right lender at the first attempt helps you avoid an unnecessary credit search.
Before we speak
What to have ready
You don't need any of this for a first conversation. Having it handy just 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 should you know about a Dundee mortgage?
Scotland has its own tax, its own offer process and its own survey. Self employed buyers have a bit more to prepare before making an offer.
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 for your budget so you know how much cash you'll need from the outset.
The Home Report
Sellers in Scotland provide a Home Report that includes a surveyor's valuation. Lenders read it carefully, and how the valuation compares with the asking price can change how much you can borrow.
Closing dates move fast
If a property attracts strong interest, the selling agent may set a closing date. Self employed income takes longer to evidence, so having an agreement in principle ready in advance is important.
How it works
From your first call to your front door
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 make an offer in Dundee with confidence, even if a closing date is set.
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?
Our aim is to give you more value than the average 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.
Dundee and surrounding areas
Where we help self employed clients
We help clients across Dundee, Tayside and the surrounding areas, with phone and video appointments available wherever you are in the UK.
⚲West End ⚲Perth Road ⚲Broughty Ferry ⚲Lochee ⚲Stobswell ⚲Hilltown ⚲Downfield ⚲Menzieshill ⚲Barnhill ⚲Invergowrie ⚲Monifieth ⚲Carnoustie ⚲Newport-on-Tay ⚲Wormit ⚲Tayport ⚲Liff
Can't see your area? Give us a call, as 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
"Very happy,
As a first time buyer Chris helped me through all my questions and queries, he made the process as seamless as possible.
Would recommend!"
jessica wilson
"Can’t thank Chris enough for his help in securing us a mortgage. We had a particularly challenging case but Chris was open and honest from the start and kept us well informed throughout the process, he put in so much time and effort! Thanks again!"
nichola gallagher
FAQs
Self employed mortgage questions, answered
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 Dundee?
It may still be possible to get a mortgage in Dundee even if your credit history is poor. 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 Dundee?
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?
It depends on the lender. Many prefer to see at least two years of accounts or tax returns, although some may consider applicants with a shorter trading history.
What 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 fluctuates?
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 find 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.