Are you a freelancer seeking a mortgage?
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What Counts as Freelance Income?
Freelancers rarely have a single, tidy income stream, and lenders vary considerably in what they will recognise. In broad terms:
- Invoiced project work — the core of most freelance assessments, evidenced through your SA302 and supported by invoices and bank statements.
- Retainer arrangements — viewed favourably because they demonstrate predictability, particularly where the arrangement has been running for a year or more.
- Platform and marketplace income — treated the same as any other self-employed earnings, provided it is declared and traceable through your accounts.
- Freelance work alongside a PAYE job — accepted by lenders comfortable combining income sources, though the mix determines which lenders are suitable.
- Signed forward contracts — accepted by some lenders as supporting evidence, especially where your trading history is short.
What lenders are really assessing is consistency. A freelancer with variable monthly income but a stable annual total is often a stronger applicant than one with a single large client and a short history.
How to get a mortgage being a Freelancer
We understand that ‘one size does not fit all’ especially for freelancers!
We offer innovative mortgage products designed to provide solutions for freelancers who are often overlooked by their own bank.
Many high street banks will ask for your last two year’s tax returns or limited company accounts if you have them. What makes this even worse, is they’ll use an average over the last two years often leaving you short of where you’d like to be.
Sound familiar???
Well don’t panic, you’re about to witness the power of having a team of freelancer experts fighting your corner!
Our unique approach involves manually underwriting mortgages with common sense, without relying on credit scoring. This, along with our deep knowledge of freelancer mortgages brings solutions you never thought possible.
If you want to take advantage of getting a mortgage approved based on your short-term contracts, then you’ve come to right place. We’ll use the income from your freelance contracts and completely ignore your tax returns.
Our lenders love freelancers and with exclusive deals at high street rates your mortgage dreams can finally become a reality.
Why Freelancers Get Declined on the High Street
Mainstream lenders tend to apply a fixed template: two or three years of accounts, averaged, with anything irregular disregarded. For a freelancer, that usually means a strong recent year is diluted by a weaker earlier one, or income from a second stream is ignored altogether.
Specialist lenders take a manual view instead, which is where the difference in borrowing power usually comes from.
If you work through fixed-term contracts rather than invoicing clients directly, our Contractor Mortgages page may be a better fit.
What Documents Do Freelancers Need for a Mortgage Application?
Securing a mortgage as a freelancer often means more documentation is required than if you were applying as a traditional employee, but with the right paperwork, it’s just as achievable. Commonly required documents include:
- 1-3 years of accounts and SA302s (tax calculations): These prove your income over time and can reflect the natural ups and downs of freelance work.
- Bank statements (business and personal): Typically over 3-6 months, these show income consistency and cash flow patterns.
- Contracts or invoices: Providing evidence of current or forthcoming work helps lenders assess your income stability.
- Proof of ID and address: Standard requirements across all mortgage applications, confirming your personal details.
If your financial history doesn’t meet all these requirements, some lenders may still consider your application when supported with strong ongoing work or a solid income pipeline.
How Is My Income Assessed as a Freelancer When Applying for a Mortgage?
Lenders typically evaluate freelancer income as follows:
- Average income over the last 1-3 years: Most lenders prefer a two or three-year average of your profits or net income.
- Current year may be considered if stronger: Some lenders are willing to focus on your most recent trading year if it shows growth.
- Examination of income sources and variability: Lenders analyse fluctuations across invoices or contracts and assess debt-to-income ratios.
This nuanced assessment makes specialist support essential – choosing the right lender based on how they view your freelance income could make all the difference when it comes to your application’s outcome.
How We Help Freelancers Borrow More
We bring flexibility and self-employed mortgage expertise to the table, backed by a manual underwriting process – all of which spells success for freelancers:
- Focus on recent, high-value income: If your latest financial period reflects higher earnings, we highlight that, not just historical averages.
- Don’t rely on credit scoring alone: We use common-sense underwriting that evaluates your unique financial patterns rather than a one-size-fits-all algorithm.
- Use contracts as income proof: Even if tax returns don’t fully reflect your potential, we lean on solid contract evidence.
- Access to lenders who understand freelancing: We match your situation with providers already comfortable with variable income structures.
This combination boosts your borrowing power and sets you on the path to approval.
Why Work With Us
Here are just a few ways we’re DIFFERENT from other companies
Self-Employed
Specialists
Specialists
In-House
Underwriting
Underwriting
Borrow
More Money
More Money
Proven
Success Rate
Success Rate
Freelancer Mortgage Success Story
Freelancer Will secured the perfect mortgage with our expert help, using his recent tax return and freelance contract. We ensured the best terms tailored to his needs, making his home buying process smooth and successful
The new wave method
Here’s the SIX STEPS to GUARANTEE Self-Employed Mortgage SUCCESS
Pro-TIP:
Freelancers Mortgages
Enjoy the flexibility of freelancing and still get top mortgage rates! Our expert Debbie provides one her favourite tips to ensure your mortgage is approved on high-street rates without any unnecessary delays”.
Ask our Experts
On your declared profit, supported by invoices and bank statements showing the income actually landing. Without a contract to point to, the consistency of your invoicing history carries more weight, so a clean record of regular payments matters.
It can. Some lenders view heavy reliance on a single client as a concentration risk, particularly if that relationship is recent. Showing a longer history with that client, or evidence of other clients alongside, helps address the concern.
Yes, provided it is declared and evidenced. Platform income is treated the same as any other self-employed earnings, so what matters is that it appears in your tax return and can be traced through your bank statements.
Most will average your last two years, which can work against you if the most recent year is your strongest. Some specialist lenders will use the latest year alone where the trend is upward and you can explain it.
Yes, and this is a common case. Lenders who are comfortable combining income sources will assess both together rather than picking one, though the mix determines which lenders are suitable.
No. VAT registration has no direct bearing on a mortgage application. Lenders assess your profit after allowable expenses, and VAT does not form part of that figure.
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