There’s a common misconception that getting a mortgage as a self-employed person is nearly impossible. While the process can be more complex — largely due to varying criteria across lenders — it is achievable with the right guidance.
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Some lenders assess income based purely on salary and dividends, while others take a broader view, considering net profits, retained earnings, or contractor day rates.
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At Pilgrim Mortgages & Protection, we specialise in supporting:
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Sole traders
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Limited company directors
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Contractors and freelancers
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Partners in LLPs and professional practices
We understand the unique challenges that come with self-employment, and we tailor our advice and lender selection to suit your specific financial profile.
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With our deep industry knowledge and strong relationships across the mortgage market — from high street lenders to specialist providers — we’re here to help you navigate the process with clarity and confidence.
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Get in touch today to discover how we can help you secure the most suitable mortgage deal.
How long do I need to be self-employed before I can apply for a mortgage?
It might take less time than you think to qualify for a mortgage. While many lenders typically require two years of trading history, there are several who will accept just one year — and in some cases, even less. At Pilgrim Mortgages, we may be able to secure funding for clients with as little as six months' trading history in a limited company, provided there is evidence of a successful prior track record as a sole trader or partner. If you’ve recently become a partner in an LLP, some lenders will accept your new employment structure from day one, particularly if you're transitioning from a similar role or within the same firm. We work with flexible lenders who understand that strong financials don’t always follow traditional timelines.
Can I get a mortgage if I am a partner in an LLP?
Yes, partners in accountancy or law firms can obtain a mortgage. Partner income is typically assessed in a similar manner to that of a sole trader. For newly appointed law firm partners, some lenders are willing to accept a letter from the Chief Financial Officer confirming your earnings. While many lenders usually prefer a longer track record, they also understand that you may have worked under PAYE for several years before recently becoming a partner. There are several lenders who are comfortable with this change in income structure and will take a flexible approach when assessing your application.
Can I get a mortgage if I am a Contractor?
Whether you’re a day rate contractor working through your limited company or via an umbrella company, many lenders are open to considering this type of income. Some will assess your application as if you are self-employed, using your tax documents as the basis for lending. Others may base their calculations on your day rate. The criteria vary between lenders, so it’s crucial to approach the right one to maximise your borrowing potential. Most lenders require a minimum track record of 12 months and will typically want to see that there is time remaining on your current contract. We work with lenders who are experienced in assessing IT contractor day rates, as well as weekly contract income for those working in the Film and TV industries.
How can Pilgrim Mortgages help self-employed buyers?
We act as your property buying councillors, guides and fairy godparents. Our friendly mortgage advisers will work tirelessly on your behalf to ensure that we secure the most cost-effective finance for your situation to enable you to purchase your first property. We work with over 100 lenders and thousands of mortgage products. Pilgrim Mortgages will ensure that you get the most suitable mortgage deal for your situation, but you will also have the backing of a well-regarded property finance company (that’s us) fighting your corner to ensure the loan is agreed and processed efficiently. We will handle the whole process from application right through to completion (the day you get your keys!). We may be able to secure benefits for you including cashback & a free property valuation. We can recommend solicitors, surveyors, and other professionals that we trust and that will help you with your first home purchase. We are flexible and can speak with you in the evening and on weekends if appointments are difficult during the workweek. We will adapt how we work to suit your needs and your busy lifestyle.
Is it easier to get a mortgage though a broker?
Yes. We think so! In our opinion, it is much easier and for several reasons; you will not have to spend hours on a phone to a bank waiting to speak to someone and then going through a laborious sales process. You get access to more products as most mortgage brokers have access to hundreds of lenders. You benefit from someone working on your mortgage application whilst you go about your daily work. A mortgage broker should save you time and money on your mortgage. We will also fight your corner and go back to the lender if they drop their rates.
How much can I borrow?
Yes. We think so! In our opinion, it is much easier and for several reasons; you will not have to spend hours on a phone to a bank waiting to speak to someone and then going through a laborious sales process. You get access to more products as most mortgage brokers have access to hundreds of lenders. You benefit from someone working on your mortgage application whilst you go about your daily work. A mortgage broker should save you time and money on your mortgage. We will also fight your corner and go back to the lender if they drop their rates.
Our minimum loan size is £100,000
A mortgage is a loan secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.