Being self-employed doesn’t necessarily make it harder to get a mortgage, but the process can sometimes involve a bit more detail compared to salaried applicants.
Instead of standard payslips, lenders may ask for additional documents such as financial statements, tax returns, GST records, or business financials to understand your income and overall financial position.
In some cases, self-employed applicants may actually have more flexibility, especially if they can demonstrate strong, consistent income and good financial management.
If you’re unsure how your self-employed income may be assessed, our team at Personalised Mortgages can help guide you through the process and explain your options.
“I want to thank Kenneth for all his help and support during the mortgage pre-approval process. Kenneth was always there when we had any questions, and gave us a lot of confidence, something we certainly needed as we looked to purchase our first home. Kenneth brought clarity to the whole process and was someone that we could deeply trust to represent our interests and needs. Kenneth is experienced, responsive, and efficient, and always made sure to keep us informed at each step of the way. We would highly recommend Kenneth for anyone that’s looking to buy a home!”
- Eric
If you’re self-employed, there are steps you can take to improve your chances of securing a mortgage, with the most important being your ability to clearly demonstrate your income.
Keeping accurate and up-to-date financial records for your business helps lenders assess your ability to meet loan repayments. In many cases, lenders will request two years of financial statements or tax returns to verify income, although allowances may be made if you have been self-employed for a shorter period.
Maintaining a strong credit history can also support your application. This includes paying bills on time, reducing outstanding debts, and managing credit card use carefully. It’s also important to note that lenders assess credit card limits rather than just balances, so reducing unused limits can be beneficial.
If you’re self-employed and want to understand your borrowing options, our team at Personalised Mortgages can help guide you through the process and work with you to find a home loan that suits your financial goals.
Whether you’re looking for expert mortgage advice to get you into your first home, or you’re upgrading, refinancing or looking for an investment property, our experienced team can help find the right solution for you.
