Joint Mortgage – One Self-Employed Applicant

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Joint Mortgage – One Self-Employed Applicant

Can you get a joint mortgage if one applicant is self-employed?

You can still access joint mortgages even if one applicant is self-employed, the difference will be in how you both prove your income. Joint mortgages can be a popular option when it comes to buying a property to live in together as a couple. When applying for a joint mortgage, you will both undergo an affordability check in which you will both need to prove your income and show your credit history.

If you are self-employed, you will need to prove your income through documentation depending upon what type of self-employed you are. Applying for a mortgage as a joint mortgage can mean combining your incomes and being able to potentially borrow more.

How much can you borrow if one applicant is self-employed?

The amount that you can borrow for your mortgage will depend upon your income and your credit score. As an applicant who is on the PAYE payroll system it is easy to keep track of your income and see how much you have been earning and tax you have paid. If you are self-employed you will need to prove your annual income through documentation.

Sole Trader

If you are a Sole Trader, you will need to provide your Tax Calculations and Tax Overviews from HMRC that have been authorised by a chartered accountant. Your income will be multiplied out to give an annual income, you will be asked to provide up to three years’ worth to work out an average.


As part of a team, you will need to provide your share of the net profits from the partnership. Yet again lenders will want to see your tax calculations (SA302) from HMRC and your tax year overviews to show that you have paid tax on your income and have used an appropriate accountant.

Limited Company

As a Limited Company Director, you will need to provide your Director’s salary as well as any dividends you pay yourself. If you have retained profits in your company then you may want to seek a specialist lender as not all lenders will account this towards your income.


If you work through contracts, then lenders will want to see these as well as any upcoming work too. They will take into account any gaps in contracts so it is important to keep this at a minimum. If you earn a day-rate, the mortgage lenders tend to multiply this out to get an annual estimate and use this figure towards your mortgage.

Both applicants must have a good credit score too as adverse credit can mean that you borrow less due to being a high risk borrower. There are options if you do have bad credit but it can be worth getting your finances in order before you approach a lender to access the lower rates.

It is important to be prepared when approaching a lender and it can be worth seeking a Mortgage Broker to help prepare a joint mortgage application.

Speak To An Expert

Our highly experienced Advisers are ready to help you with either buying or remortgaging a home, protecting your property and lifestyle along with saving you time and effort, ensuring you have a competitive deal right for you.

Does a mortgage have to be in joint names?

It can be a good option to go in for a joint mortgage if you want to borrow more and buy a home with someone; however, there comes a lot of responsibility. No matter how you pay – the repayments on your mortgage must be made and it is up to both of you on the agreement to ensure this happens.

When the house is sold, you will usually share the equity equally, and then there is no reason that you cannot apply for a mortgage alone. If you want to apply for a mortgage by yourself but are afraid you cannot afford it, there are a number of options out there to help you into the mortgage market.

How can a Mortgage Broker at Yellow Brick Mortgages help you?

Here at Yellow Brick Mortgages we have access to the whole of the first-charge mortgage market meaning that we can access mortgage deals and interest rates that are not available through high street lenders.

We are appropriately authorised and regulated, meaning we are a registered firm with the correct qualifications and expert knowledge to give you the mortgage advice you seek.

It can be daunting undergoing a self-employed mortgage application due to all the additional documents needed to prove your income. Here at Yellow Brick Mortgages, we will help with both employed applications as well as tailoring mortgage advice to your specific circumstances.