A freelance graphic designer has been self-employed for two years and wants to buy her first flat. She assumes she will struggle to get a mortgage. She has heard she needs three years of accounts. She does not know what documents lenders want. So she waits, and keeps renting.
Self-employed buyers often delay because they are unsure what is needed. Clear information helps them start.
Why self-employed buyers hesitate
Self-employed income can look less predictable to lenders. Buyers hear conflicting stories about how many years of accounts are needed and whether their income will count. Many assume the answer is no without asking. Buyers' final questions before committing are covered in questions right before buying.
What self-employed buyers ask
They usually want to know how many years of trading history lenders look for, which documents they need, whether contract or freelance income counts, whether a large one-off contract helps, whether they need an accountant's certificate, and whether being a company director makes a difference.
Example conversations
These scripts use information a broker might publish. Your answers should come from your own pages.
Buyer: I've been self-employed for two years. Can I still get a mortgage? Assistant: The self-employed page explains that the broker regularly helps self-employed buyers, and that requirements vary between lenders. Whether you'd qualify depends on your circumstances, so a broker would need to look at your situation. Would you like me to pass your details on?
Buyer: What documents will I need? Assistant: The page lists the documents usually requested, such as recent accounts or tax calculations, bank statements and proof of identity and address. The broker will confirm exactly what's needed for your case.
Contractor: I'm on a day-rate contract. Does that count? Assistant: The page explains that some lenders consider contract income in different ways. A broker can explain the options for your situation.
The advice boundary
A website should never tell a self-employed buyer whether they will be accepted or how much they can borrow. Those depend on the full picture. The boundary is explained in what a mortgage website must never tell a buyer.
Gathering documents early
A clear documents list lets self-employed buyers gather what they need before speaking to a broker, which speeds up the process. Buyers who have just viewed a property are especially keen to move quickly, as described in mortgage enquiries that arrive after a house viewing.
Company directors
Directors of their own limited companies often ask whether lenders look at salary, dividends or company profits. The answer varies between lenders, which is exactly why a broker is valuable. The website can explain that the broker understands how different lenders treat director income and invite a conversation.
Auction and fast purchases
Some self-employed buyers are buying at auction, where finance must be arranged quickly. Those purchases have their own pressures, as described in auction property enquiries and the questions they bring.
Answering at any hour
Self-employed buyers often research in the evening after work. SpideyChat for mortgage brokers answers document and process questions from your own pages and captures their details for a broker. It does not give mortgage advice.
A self-employed page this month
Write a page for self-employed and contract buyers explaining the process and documents in plain language. Try SpideyChat on your own site, or read about capture on the features page.