Getting a mortgage as a freelancer. Numberpad with laptop on desk.

Working as a freelancer can be fantastic, but getting a mortgage as a freelancer isn’t easy. 

It’s a great chance to have the perfect work-life balance. To work when you need to, or want to, setting your own hours and working to suit you. It’s an opportunity to work to live, not the other way around. You can work from anywhere, travelling the world while you earn money.

It means that you’re never bored at work or trapped in a job that makes you unhappy. You can earn from a variety of sources, even doing different things if you’ve got more than one talent or interest.

But, it can have its disadvantages. Freelancers often find it hard to secure loans and mortgages. Banks want security. Freelancers earn money in a much more flexible way. There aren’t contracts or set working hours. Their income can vary wildly from month to month, and there are no guarantees of any profit at all. It can be hard to predict long-term earnings. Banks don’t like this. Especially not when it comes to lending massive amounts of money for extended periods.

If you’re working as a freelancer, this doesn’t mean that you should give up your hopes of owning a home. You just need to be a little more prepared. Here are some tips on getting a mortgage as a freelancer. 


Sort Your Finances

Lenders want to see evidence of your personal finances. They’ll want to see bank statements and savings account statements. For employees, they generally want to look at the last three months. If you are self-employed or a freelancer than some lenders might ask for up to two years. So, as soon as you start thinking about buying, sort your finances out.

Stop spending money that you don’t need to by budgeting for food and utilities and cancelling any contracts that you don’t need. Use a to transfer any debts on to one card, or to pay for things so that only one payment leaves your account. Just make sure you pay off the maximum if you do this.


Prepare Your Accounts

Getting a mortgage as a freelancer includes organisation. Banks and mortgage advisors will also want to see evidence of your earnings. So, prepare your accounts.

Use a simple spreadsheet to record your income and expenses. Make sure that these are easy to understand and display your earnings clearly. You’ll also need copies of your SA302 form from your tax return.


Keep at it

Your bank may ask to see two years’ worth of tax return documents as two complete SA302s. This means you need to have been self-employed and earning consistently for two full tax years. If you have less experience than this, an accountant may be able to help by verifying your accounts for presentation. But, it might just be a case of sticking with it and working hard for a little longer.



The more deposit that you can save, the less you will need to lend. The less you ask for, the more likely you have of being approved. So, get saving. A large deposit also shows that you are able to save, sensible with money and committed to your new home.


Getting a mortgage as a freelancer might not be easy, but it is possible.

Getting a Mortgage as a Freelancer

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