How might a lender assess your income?
The method depends on how you work and the lender. Sole traders may be assessed using business profit. Limited company directors may be assessed using salary and dividends; some lenders may consider other measures of company income.
A lender may look across more than one accounting year and consider how the business is performing now. Do not assume turnover is the income figure available for a mortgage. Contractor assessment can also vary with the contract and working arrangement.
Get the right documents together
The exact list depends on your circumstances and lender. A useful starting point is:
- Photo ID and recent proof of address
- Tax calculations (often called SA302s) and corresponding tax year overviews
- Finalised business accounts, where relevant
- Recent personal and business bank statements
- Details of salary, dividends, ownership and company commitments
- Current contracts and contract history, where relevant
- Deposit evidence and a breakdown of existing debts
What can hold an application up?
Incomplete accounts, inconsistent figures or missing supporting documents can create delays. Falling or irregular profit, recent business changes and financial commitments can also need explanation.
An application can be declined because it does not fit a lender’s criteria. That does not establish that every lender will take the same view. Before making another application, understand the reason and consider the implications of further credit searches.
- Check that the figures match across the documents
- Explain changes in profit or business structure
- Disclose credit commitments and any payment problems
- Keep evidence of your deposit and its source
A practical pre-application checklist
Start with a discussion, not a series of applications. Tell Anwar how long you have traded, how you pay yourself and what has changed recently. He can then explain the information needed to assess the options available through Mswitch.
- Confirm your latest accounting period and tax filing position
- List your monthly spending and credit commitments
- Prepare an explanation for any unusual account entries
- Keep supporting evidence ready for the client portal
GOOD QUESTIONS. CLEAR ANSWERS.
Your questions answered.
Do I need a special self-employed mortgage?
Self-employed applicants can be considered for mortgage products subject to lender criteria. The key difference is often how income is evidenced and assessed.
Can I apply with one year of accounts?
Some lenders may consider a shorter trading history, while others require more evidence. Your business, background and the rest of the application matter; approval is not guaranteed.
Can a director use company profits as well as salary?
Some lenders may consider company profit rather than only salary and dividends, subject to their approach and evidence requirements. Not every lender uses the same method.
Will a recent decline stop me applying elsewhere?
Not necessarily, but first establish why the application was declined. Further applications may involve credit searches. Anwar can discuss the reason and relevant alternatives.
Should I send bank statements through WhatsApp?
Use the client portal for the documents requested for your case. Keep initial enquiries brief and do not include bank account numbers, identity documents or health information in the contact form.
General information, not a personal recommendation. Lender criteria can change. Last reviewed 19 October 2026.