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If you’ve been self-employed for less than 12 months, or if you have recently changed from being a limited company to a sole trader, you may be worried that it will affect your chances of getting a new mortgage.
While there may be a few more steps involved compared to an applicant with a traditional job role, it is still possible to be approved.
Below we offer more insight into how to prepare your application, and the type of information lenders usually request along the way.
If you’ve decided that remortgaging is the right move for you, there are some things you can do to streamline the process.
All lenders will want to know more about your income and financial stability and will ask you to provide evidence.
Make sure that you have access to at least the last 12 months’ worth of bank statements and your most recent tax return, as you may be asked to submit them. The faster you can provide these documents, the sooner you will get a decision from the lender.
Whilst it is not the sole determining factor, your credit score will have a key role to play in your application. The better your score, the more likely it is that you will have access to the best market rates.
Before you apply, request your credit report from Experian, TransUnion or Equifax for free, so you are aware of your score and any potential issues that could be resolved.
Many lenders are willing to consider evidence of your future earnings potential as part of your application (some may also request it). Include any ongoing contracts or confirmed projects that will contribute and provide you with a stable income.
This is a report that is usually best generated by a qualified accountant, as they can help ensure that the calculations are correct and that the information is provided in the right format.
You can speak with a member of the Willows team at any time and we’ll guide you through the various stages of the application process.
If you have been self-employed for at least 12 consecutive months this should not prevent you from being considered for a remortgage.
The lenders we partner with work on a case-by-case basis and will assess your situation based on several factors.
In terms of the type of documentation you will need to submit, this will vary depending on your self-employed status. For example:
If lenders are willing to consider your application for a remortgage with a more competitive rate, you may be asked to submit additional information such as:
Getting a quote won’t affect your credit score
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At Willows, we work with a lender who offers specialist loans, which includes deals for individuals who have been trading for less than 12 months.
This lender has their own specific criteria, in general terms they will require that you:
To get a better idea about your eligibility, get in touch with the Willows team and we’ll be more than happy to help.
There are lenders that we work with who would be open to considering an application from someone who has moved from sole trader to limited company status. This also applies if you have switched from being a limited company to working as a sole trader. In most cases, lenders will usually want to ensure that you have a combined trading history of at least 12 months. They will also ask to see clear evidence of your income during that period and may ask you to explain why the structure of the business has been changed.
If you can satisfy their requests in all these areas – along with any other specific requirements the lender may have – you stand a better chance of being approved.
If you have been contracting for one year and are planning to remortgage, then we can put you in touch with lenders that could be suitable for you.
You may find that the process is easier to manage if you involve your own accountant, especially if the contract role is similar to a previous employment position. It could mean that some lenders take a more flexible approach – even if you have an application with less than 12 months of contracting history.
Having less than 12 months’ worth of accounts or being self-employed for less than a year won’t necessarily prevent you securing a new mortgage.
We’ve helped countless self-employed people to find a remortgage deal that suits their finances, matching them to lenders that offer affordable and flexible terms.
To find out more about how we can help, or if you have any questions about the type of employment types our lenders accept, you can speak with one of our expert advisors today by calling 01656 766 158.
If you have a question – we’d be happy to talk to you – simply call us…
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LOANS ARE SECURED AGAINST PROPERTY. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED UPON IT.
Willows Finance is a credit broker not a lender using a representative panel of lenders. We work with a Panel of Lenders whose particulars will be supplied upon request to find a potentially suitable arrangement for your consideration.
For credit broking, we do not provide or offer advice or recommendation. Whichever lender we introduce you to we will receive commission from. Different lenders pay different amounts based on different commission models and interest amounts. For transparency we work with the following commission models: percentage of the amount you borrow, rate for risk (this is based on the risk profile of the proposal).
Willows Finance Limited is authorised and regulated by the Financial Conduct Authority. Our Financial Conduct Authority FCA register number is 670052. We are registered under the Data Protection Act No. Z1447660 and are a member of the Association of Finance Brokers.
Willows Finance Limited registered address is Brocastle, Bridgend CF35 5AS. Company registered in England.
Registration number 6678545. Copyright © 2025 Willows Finance Ltd
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At Willows Finance we ensure your personal information is kept secure and confidential.
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At Willows Finance Ltd, we appreciate that your privacy is extremely important to you. With this in mind, we have put in place a number of measures to ensure that any personal details we obtain from you as a result of visiting this website is processed and maintained in accordance with accepted principles of good information handling and also in accordance with the Data Protection Act 1988.
This statement provides you with details of the type of information we may hold about you, how we obtain and use information and how we protect your privacy.
Willows Finance Limited
Brocastle, Bridgend, CF35 5AS
Authorised and regulated by the Financial Conduct Authority
Firm Reference Number: 670052
Company Number: 6678545 (Registered in England and Wales)
This document outlines the services we provide. If you need clarification, please contact us at 01656 766158.
We offer first and second charge regulated mortgage contracts for business or personal use.
Other finance options may include:
Regulatory Status:
We offer an advised mortgage broking service and provide enough information for you to make an informed decision.
We are not independent financial advisers. Free debt advice is available from the Money Advice Service.
You can view our privacy policy at: https://willowsfinance.co.uk/privacy-cookie-policy/.
Lenders may also have their own privacy policies which will be provided to you.
We charge a broker fee upon loan completion. The average fee is approximately 5%, depending on your situation.
Fee details:
No refund is offered after completion. You may pay upfront or add the fee to your mortgage. Fees and commission will be detailed in your ESIS and Mortgage Agreement.
You will receive a Mortgage Agreement and an ESIS document detailing:
You may cancel your application anytime before completion without any charge. Mortgages cannot be cancelled after completion.
Missing payments can lead to charges, repossession, and negative impacts on your credit rating.
Consolidating debt may result in higher long-term interest. Securing debt against your home increases risk.
Your home may be repossessed if you do not keep up repayments on a mortgage or other loan secured on it.
If you wish to complain, contact us at:
Willows Finance Limited
Brocastle, Bridgend, CF35 5AS
Tel: 01656 766158
You may be able to refer your complaint to the Financial Ombudsman Service.
We are covered by the FSCS. You may be eligible for compensation of up to £85,000 per person per firm for mortgage advice and arranging.
More info: www.fscs.org.uk
After processing your application, you’ll receive a Mortgage Agreement and have a 7-day reflection period.
Contact us during this period with any questions. To proceed, sign and return the agreement.
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