Self Employed & Contractor Mortgage Livingston
Whole-of-market advice for self-employed people, company directors and contractors in Livingston and throughout West Lothian. We take the time to understand how you earn, then match you with a lender who can see your complete 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 Livingston
Your income isn't standard. Your mortgage advice shouldn't be either.
Working for yourself gives you freedom, but it can make a mortgage application feel more complicated than it needs to be. Lenders don't all read 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 be a good fit.
How lenders read your income
Four ways of working, four different calculations
The way you trade determines which figure a lender starts from. Here's what most lenders look for, and where the detail tends to make the difference.
Sole trader
Most lenders work from the net profit on your SA302 tax calculations, usually taking an average of the last two years, or the latest year if that figure is lower. Some will look at a single year's figures when your trading history is strong.
Limited company director
Salary plus dividends is the standard method, 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
A number of lenders assess contractors using their current contract instead of company accounts, converting the day rate into an annual figure over a set number of weeks. They'll also look at how long the contract runs, how often it has been renewed and any gaps between contracts.
CIS, umbrella and partnerships
Construction workers paid through CIS, contractors working inside IR35 through an umbrella company and partners taking a share of profit are each assessed differently. Choosing the right lender first time 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 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 Livingston mortgage?
Scotland has its own tax, its own offer process and its own survey. Self employed buyers have a little more to organise 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 against your budget, so you know from the start how much cash you'll need.
The Home Report
Scottish sellers supply 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. Livingston also has plenty of new-build homes, which are generally treated differently, so we explain what applies to the property you're considering.
Closing dates move fast
If a property attracts strong interest, the selling agent may set a closing date for offers. Self employed income takes longer to evidence, so having an agreement in principle ready in advance 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 make an offer in Livingston with confidence, even if a closing date is set.
Step 4
Whole-of-market
High street brands through to contractor specialists, then a clear recommendation.
Step 5
Application to keys
We manage lenders, solicitors and estate agents 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
Livingston and surrounding areas
Where we help self employed clients
We help clients across Livingston, West Lothian and the surrounding areas, with phone and video appointments available wherever you are in the UK.
⚲Almondvale ⚲Dedridge ⚲Deans ⚲Craigshill ⚲Howden ⚲Knightsridge ⚲Ladywell ⚲Murieston ⚲Kirkton ⚲Adambrae ⚲Eliburn ⚲Livingston Village ⚲Bellsquarry ⚲Polbeth ⚲West Calder ⚲Mid Calder ⚲East Calder ⚲Bathgate ⚲Broxburn ⚲Whitburn ⚲Armadale
Not on the list? Call us, as we cover the whole of the UK.
What our clients say
"Excellent service from Sian. Really quick turnaround and hassle free. Would highly recommend."
Linda Gibson
"I have no words to express how helpful Chris has been throughout my first home buying process..."
arisha ali
"The Impossible Made Possible Chris was fast & efficient in responding to all questions I had , whether it was by email or phone call...."
Robert Clements
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 Livingston?
It may still be possible to get a mortgage in Livingston 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 Livingston?
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 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.