Self Employed Mortgages

More people are becoming self-employed every year, and at Newcastle Building Society we don’t think being self-employed should stop you from getting a mortgage. That’s why we created a specific range of products tailored to those in self-employment. We also accept applications from customers with only 1 years’ accounts so you could get on the property ladder sooner.

Why choose us?

Benefits of taking out a self-employed mortgage with us include:

  • Exclusive range of self-employed mortgage products
  • Only 1 years’ accounts needed (or an SA302 and corresponding Tax Year Overview form)
  • Borrow up to 75% of the value of your home
  • 10% overpayments per annum
  • Free standard valuation on properties up to £500k on selected products
  • No product fees on selected products
  • £500 cashback on selected products

Personal Service

Throughout your mortgage journey with us, from helping with affordability through to issuing the application, you will have one dedicated point of contact. All of our team are friendly and personable and you will have access to them directly.

Flexibility and Individuality

Your application isn’t reviewed by a computer; we have a team of underwriters who work closely with your mortgage advisor to review your personal situation & circumstances. This allows us to be flexible and efficient when making a decision.

Home Insurance

SmartQuote is an easy and fast way to get a Home Insurance* quote. Answer five simple questions and SmartQuote does the rest. By using publicly available data sources, SmartQuote gives us all the information we need to give you a quote on the spot.

How our self employed mortgages are different

You only need one year's accounts

Many lenders require you to provide two or more years’ accounts when applying for a self-employed mortgage. However, we believe that new traders should be able to apply for mortgages and could get on the property ladder sooner. That’s why we only ask for a minimum of one years’ accounts (or an SA302 and corresponding Tax Year Overview form) during your mortgage application.

The way we calculate self-employed income

When applying for a self-employed mortgage with us, we are flexible with the way we calculate your income. We will consider you as self-employed where you have more than a 25% shareholding in a limited company and we will use the following income to assess your case:

Either

  • Salary paid
  • Dividends received OR
  • Share of net profit

Am I eligible for self employed mortgage?

Our criteria for a self-employed mortgage is simple and, in many ways, similar to our regular mortgage requirements. To be eligible for a self-employed with us, you will need:

  • One years’ accounts (or an SA302 and corresponding Tax Year Overview form)
  • Proof of income and expenditure
  • At least a 25% deposit
  • To be at least 18 and a maximum of 80 years of age at the end of the mortgage term

Other documents will be required during the application process, and you can find out more about what you will need in our guide to getting your mortgage when you’re self-employed

If you have any further questions about our self-employed mortgages, don’t hesitate to get in touch with one of our qualified mortgage advisers by calling the number below or by booking an appointment.

Your mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Apply for a mortgage today

Talk to our mortgage advisers

443456064488

Calls to 03 numbers, cost the same as a call to a standard ‘01’ or ‘02’ landline number, even when calling from a mobile. Contact your provider for more information.

*Buildings and contents insurance is arranged by Newcastle Building Society and underwritten by Fairmead Insurance Limited (renamed from Legal & General Insurance Limited), part of the Liverpool Victoria General Insurance Group.  To get a quote and apply online you will be transferred to their website.  Their terms and conditions and cookie policy may differ from Newcastle Building Society’s so please read them carefully.