In This Guide
Why Together Loans for Self-Employed Mortgages?
Self-employed borrowers represent one of the largest and most consistently underserved segments in the UK mortgage market. Despite often earning excellent incomes, millions of self-employed people — sole traders, contractors, limited company directors, freelancers — are routinely declined by automated high-street lending systems that are simply not designed to handle income complexity.
Together Financial Services is one of the very few UK lenders whose underwriting model is genuinely built to handle self-employed income. Rather than feeding your application through a rigid automated calculator, Together employs experienced human underwriters who read your accounts, understand how your business works, and make informed decisions based on your actual financial picture.
The result: Together regularly approves self-employed mortgage applications that every high-street bank has already declined — not because the borrowers are financially weak, but because their income structure doesn't fit a standard template.
Key advantage: Together accepts self-employed applications with as little as 1 year's accounts, compared to the 2–3 years required by most mainstream lenders. This alone opens the door for thousands of recently self-employed borrowers who would otherwise have no mortgage options.
Types of Self-Employment Income Together Accepts
Sole Traders
Net profit from self-employment (from SA302 / tax calculations). Together assesses actual profit, not just salary drawn.
Limited Company Directors
Salary plus dividends. Together can also consider retained profits held in the company — which most banks ignore entirely.
Contractors & Freelancers
Daily rate or annualised contract income. Together may accept contract income annualised (daily rate × working days) rather than requiring accounts.
Multiple Income Streams
Salary + rental income + dividends + freelance — Together can consider the full picture rather than cherry-picking the simplest income source.
Together Self-Employed Mortgage Criteria
| Criterion | Together's Position |
|---|---|
| Minimum trading history | 1 year (vs 2–3 years for most banks) |
| Income evidence | SA302 & tax year overviews, or accountant's certificate |
| Accountant | Qualified accountant (ACCA, ICAEW, CIMA, AAT) preferred |
| Income calculation | Average of last 1–2 years; latest year may be used if rising |
| Retained profits | Can be included for limited company directors — case by case |
| Maximum LTV | 85% (standard cases); 75% (adverse credit) |
| Minimum loan | £50,000 |
| Maximum loan | £1 million+ (case by case) |
| Adverse credit | Considered — CCJs, defaults, missed payments assessed on merit |
| Property types | Standard and non-standard construction accepted |
Documents You Need for a Together Self-Employed Mortgage
Preparing your documentation thoroughly before applying is the single most effective way to speed up your Together mortgage application. The following documents are typically required:
- Last 1–2 years of SA302 tax calculations (downloadable from HMRC online account)
- Corresponding tax year overviews showing tax paid
- Last 1–2 years of full company accounts (for limited company directors)
- Accountant's certificate confirming income (on headed paper, signed by qualified accountant)
- 3–6 months personal bank statements
- 3–6 months business bank statements
- Proof of identity (passport or driving licence)
- Proof of address (utility bill or bank statement, dated within 3 months)
- Details of any outstanding debts, loans or financial commitments
How Together Calculates Self-Employed Income
Understanding how Together assesses your income is crucial for setting realistic expectations about the mortgage amount you may be offered.
Sole Traders and Partnerships
Together uses your net profit as reported to HMRC, typically averaged over the last two years. If your income is increasing year-on-year, it may be possible to use only the most recent year's figure — this requires discussion with an underwriter.
Limited Company Directors
Together can assess income as salary plus dividends drawn, which is the standard approach. However, uniquely among most lenders, Together can also consider net profit retained within the company — your "share of net profit" — particularly valuable for directors who have intentionally left profits in the company for tax efficiency reasons rather than drawing them as dividends. This distinction alone can make a significant difference to the maximum mortgage available.
Contractors
For IT contractors and other professionals on day-rate contracts, Together may be able to annualise the contract rate (daily rate × 46–48 weeks) rather than requiring 1–2 years of accounts. This is particularly valuable for recently self-employed contractors who have strong earnings but limited accounting history.
Expert Tips to Maximise Your Together Mortgage Approval Chances
- Don't apply directly after a bank rejection. Each declined application and hard credit search can further reduce your score. Use a soft-search DIP through a specialist broker first.
- Use a qualified accountant. Together places more weight on income certified by a member of ACCA, ICAEW, or similar. If your accounts are prepared by a bookkeeper or unqualified accountant, consider switching before applying.
- Have at least 12 months of clean bank statements. Even if Together can assess with 1 year of trading, your bank statements should show consistent income and responsible financial management for at least 12 months.
- Address any adverse credit before applying. If you have outstanding CCJs or defaults that can be satisfied, do so before submitting your application — satisfied adverse credit is viewed more favourably than unsatisfied.
- Be transparent about retained profits. If you hold significant profits inside your limited company, tell your broker and the underwriter. What may look like a low income on paper could be significantly higher when retained profits are considered.
- Provide a clear explanation of income fluctuations. If your income dropped in one year (Covid, illness, business investment), write a concise covering letter explaining why. Underwriters respond well to transparency and context.
Common Mistakes Self-Employed Applicants Make
❌ Mistakes to Avoid
- Applying to multiple lenders simultaneously (damages credit score)
- Minimising income too aggressively on tax returns — lower declared income = lower mortgage offer
- Using unqualified bookkeeper for accounts rather than chartered accountant
- Not preparing bank statements — disorganised or unexplained large transactions raise flags
- Applying without 1 year of clean trading history — wait until you have at least 12 months
✓ Best Practices
- Work with a specialist broker who knows Together's criteria
- Use a soft-search DIP before committing to a full application
- Prepare all documents in advance — speed matters
- Include a covering letter for any income anomalies or gaps
- Check your credit file via Experian/Equifax before applying
Self-Employed? Start Your Together Mortgage Enquiry
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