Can I get a mortgage if I am freelance?

Podcast approved by The Openwork Partnership on 29/12/2025.

What is a freelancer? Can you get a mortgage as a freelancer?

‘Freelancer’ can be quite a complex term, but generally these are self-employed professionals who offer specialised skills and services to various clients. They tend to work on a project-by-project or contract basis, rather than as a long-term permanent employee of one company.

Freelancers have freedom to choose their clients, set their own rates, manage their own schedules and work across multiple projects or jobs simultaneously, usually operating as a small business. Common fields could be writing, design, programming, marketing and consulting of any kind.

How do I know if I’m classed as a freelancer? How long do you have to be a freelancer before getting a mortgage?

Freelance is generally descriptive of a working style, rather than a specific legal status, especially for tax purposes. You’re typically considered self-employed.

The key is the nature of your working relationship with your clients, not the job title itself. A freelance mortgage is possible with just one year of trading history, but most mainstream lenders prefer to see at least two years of accounts.

The longer your trading history, the smoother the application process and the better your chance of getting favourable interest rates.

Can I get a mortgage if I’m employed with a part-time freelance income?

Generally speaking, yes, you can get a mortgage if you have a main job and part-time freelance income. In fact, consistent PAYE income can strengthen your application by offsetting some of the risk lenders associate with the fluctuating nature of freelance work.

Most lenders will combine both incomes in their affordability assessment, although the exact portion of your freelance income they consider will vary.

What types of mortgages can I get if I’m a freelancer?

You can access a wide range of mortgage types, including standard residential mortgages, remortgages and Buy to Let mortgages. A freelance mortgage is not a distinct product, so your options are the same as those for traditionally employed applicants.

As there will be more extensive income verification, finding lenders who offer tailored options can also be beneficial.

How much can I borrow and how much deposit do you need for a mortgage as a freelancer? Will I need a large deposit?

You can typically borrow between four and five times your average annual income, although some lenders may offer up to 5.5 times in certain situations.

The minimum deposit required is usually 5% to 10%, which is similar to employed applicants. Having a large deposit will significantly improve your chances of securing a better interest rate.

How do lenders assess mortgages for freelancers? What do I need to do to apply for a mortgage as a freelancer?

Income stability is important, and the lack of a guaranteed salary presents a higher perceived risk compared to traditional employment. The process involves rigorous documentation and detailed financial scrutiny.

You will need to gather financial documentation to demonstrate a stable income history and that you manage your finances meticulously. Freelance mortgages are more rigorous, of course, so it can be a more difficult process than a standard application. Preparation would be key.

You need to build up a strong credit score. Pay your bills on time and keep your credit utilisation low – less than 30% in total would be ideal. Make sure that you’re on the electoral roll, and avoid making multiple credit applications in the months before your mortgage application – that could create some suspicion.

Ideally, you should gather two to three years’ certified accounts and organise your banking. Have separate bank accounts, for example, for your business and personal finances.

Avoid gaps at work because, again, that triggers suspicion. Save a larger deposit, if possible, because that will increase your credibility.

What would you like to add before we return with part two?

Do consider a mortgage broker, because our experience in self-employed mortgages can guide you through the process.

We will find you lenders who are more flexible and we present your finances in the most favourable light. We’ll confirm how to gather all the necessary documents. If your income varies due to seasonality or other factors, we will talk this through with you so we’re prepared to explain the circumstances.

If you’re a limited company director, lenders may assess your income based on your salary and dividends. Some lenders may consider the retained profits as well.
Going to the right mortgage broker is key, as you can imagine.

Key Takeaways:

• While a freelance mortgage is possible with just one year of trading history, most mainstream lenders prefer to see a minimum of two years of certified accounts.
• You can typically borrow between four and five times your average annual income. The minimum deposit required is usually 5% to 10%.
• Lenders view freelancers as self-employed, and the mortgage application process involves rigorous documentation and detailed financial scrutiny due to the fluctuating nature of freelance income.
• To improve your application, you should build a strong credit score, organise your banking (e.g., separate business and personal accounts), and gather two to three years of certified accounts.
• Working with a mortgage broker is highly recommended; their experience in self-employed mortgages can help you to find more flexible lenders and present your finances in the most favourable light.
  
  

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 29/12/2025.