Joint Mortgage When One Self Employed

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Can you get a Joint Mortgage if one Applicant is Self-Employed?

You can still get a joint mortgage if one applicant is self-employed. A joint mortgage means that both people on the application will be liable to make payments towards the mortgage. It will be up to both parties to manage how the mortgage is paid but both names on the mortgage mean both persons are responsible.

Lenders will carry out checks on both applicants to ensure that the mortgage is affordable. As you are able to combine both of your incomes it can mean you will be able to borrow more than if you were to apply alone.

How Much Can You Borrow if one Applicant is Self-Employed?

The only difference being self-employed makes to your mortgage application is the way you prove your income. A PAYE employed mortgage applicant will be able to prove their income a lot easier as they have a payroll history of their income. The amount that you are able to borrow will depend on your own financial situation.

If you are self-employed you will need to prepare two years of accounts signed off by a chartered accountant, but the more accounts you can provide the better. You need to ensure that you both have a good credit score. If you have bad credit you might not be accepted or will have higher interest rates offered as mortgage deals.

Lenders require to look into your credit history, they will see any credit cards, mobile phone contracts and outgoing payments you have had. You need to ensure that you have a good credit rating to get the best rates that you can access.

Typically, you will be able to borrow five times your annual salary and if you are going in for a joint mortgage then your salaries will be combined meaning you can access bigger mortgages.

You need to ensure you can afford the mortgage that you are applying for as you need to make sure you can keep up with the repayments on your mortgage. If you are not sure which mortgage is right for you or what you can afford then constitute financial advice from mortgage advisors who can help you get closer to buying a property.

What Documents do you need if one Applicant Is Self-Employed?

If you are self-employed then you will need to bring additional documents alongside your mortgage application. There are typically three categories of self-employed, sole trader, partnership and limited company.

Sole Trader

If you are a solo rider then you and your accountant will need to sit down and declare your income on a self-assessment form and then your tax will be calculated by HMRC at the end of the tax year. You will need to fill our SA302 forms too outlining your total income and tax paid.


If you are part of a partnership then lenders will look into your share of the net profits, you should aim to provide three years worth if you can.

Limited Company

You will need to provide the director’s salary and any company dividend payments. If you choose to retain profits, then you should try to find a lender that takes them into account when calculating your salary.

Speak to An Expert

Expert Mortgage Advisers

We work with dozens of lenders

Access to competitive rates

We will work with you to understand your situation and needs, then develop personalised advice to help you achieve your goals.

Does a Mortgage have to be in Joint Names?

Mortgages are becoming more and more flexible as time goes on and there are a range of different mortgage products out there. You can apply for a mortgage alone or go into it as a joint mortgage but to get your name off the agreement you will need to buy the other person out or sell the property.

If you need to get out of a joint mortgage it would be advisable to seek expert advice as soon as possible. You should make sure you are comfortable with all agreements before agreeing to go into a mortgage together.

How can a Mortgage Broker help?

A mortgage broker will be able to tell you which mortgage option would be the right fit for you. They will take into account your personal details and financial status and then point you to the lender to fulfil your needs and wants too.

Mortgage brokers have access to the whole of the mortgage market. They have a lot of experience in a range of different clients in all sorts of different situations so they will be able to cater completely to you.

Joint mortgages can be daunting, and you need to make sure you understand all of the financial commitments you are making. A broker will be able to look at both of your finances and advise if it is the right option for you, if not they will explore other options with you.

Mortgage advisers are authorised and regulated by the Financial Conduct Authority meaning that they are qualified to give you the advice that you seek. They will help you gather the documents that you need and make sure you are fully prepared before approaching a lender.

You shouldn’t waste time, get in touch with a member of the team today to get the advice that you need to take that next step on the property ladder. General enquiries will not incur a fee as we want to make sure that you are walking away knowing more about mortgages than you did before.



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