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        Updated: April 17, 2024

        Self-Employed Mortgage Calculator

        Want to know how much you could borrow and what the repayments are for a mortgage if you’re self-employed? Use our calculators below to find out.

        Calculate My Payments

        No impact on your credit score

        Getting a self-employed mortgage can be slightly more complex as the amount you can borrow may differ depending on whether you’re a sole trader, in a partnership, work as a contractor or a company director.

        Our self-employed mortgage calculator is free to use and will allow you to select your trading type to provide a more accurate picture of how much you could borrow.

        calculator icon

        Self-Employed Mortgage Calculator

        This calculator can work out your maximum mortgage borrowing if you're self-employed. Select your trading style from the drop-down menu, then enter your income and outgoings, and our calculator will do the rest.

        Select your employment type from the menu

        You could borrow up to 

        Most lenders would consider letting you borrow

        This is based on 4.5 times your net profit or the total income declared. To borrow more than this, you will need to speak to a mortgage broker who specialises in self-employed borrowers

        This is based on 4.5 times your share of the partnership's net profit or total income declared. To borrow more than this, you will need to speak to a broker who specialises in self-employed borrowers

        This is based on 4.5 times your share of the net profit/salary plus dividends, or total income declared. To borrow more than this, you will need to speak to a broker who specialises in self-employed borrowers.

        This is based on 4.5 times your income. To borrow more than this, you will need to speak to a broker who specialises in self-employed borrowers.

        Some lenders would consider letting you borrow

        This is based on 5 times your net profit or your total income recieved. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.

        This is based on 5 times your share of the partnership's net profit or your total income recieved. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.

        This is based on 5 times your share of the net profit/salary plus dividends, or your total income recieved. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.

        This is based on 5 times your income. This income multiple is often unavailable to borrowers who aren't applying through a mortgage broker.

        A minority of lenders would consider letting you borrow

        This is based on 6 times your net profit or the total income declared. This income multiple is only available under specific circumstances and is usually only accessible via a broker.

        This is based on 6 times your shares of the net profit or total income declared. This income multiple is only available under specific circumstances and is usually only accessible via a broker.

        This is based on 6 times your share of the net profit/salary plus dividends, or total income declared. This income multiple is only available under specific circumstances and is usually only accessible via a broker.

        This is based on 6 times your income. This income multiple is only available under specific circumstances and is usually only accessible via a broker.

        Now that you have a rough idea of your maximum borrowing, get in touch to speak to a mortgage broker who can provide bespoke calculations and access to the best rates and deals.

        Work out your maximum borrowing on a self-employed mortgage

        Mortgage lenders tend to use an average of your last three years’ self-employed earnings as a basis for calculating the maximum amount you can borrow. Once they have this figure they’ll then apply their standard affordability criteria using a multiple of your annual income.

        Most lenders use an income multiple of 4-4.5 times your average earnings, but some may go as high as 5 times earnings or possibly even 6 times  if you’re a self-employed professional such as a solicitor or a doctor.

        So, for example, if your average earnings over the last three years is £40,000 then, based on the typical income multiple of 4.5 times you could borrow up to a maximum of £180,000 with most mortgage lenders.

        If you’re relatively new to self-employment and don’t have a strong trading background – don’t panic!

        If you get in touch with us we can introduce you to mortgage brokers who have experience arranging mortgages for people who have just 2 years trading history or even less than one year. 

        Get Started with a Broker

        Maximise your chance of approval with specialist advice from a mortgage expert

        How this calculator works

        Our self-employed calculator is really simple and straightforward to use.

        No personal details are required, all you need to input is:

        • Your trading type – sole trader / partnership / contractor / director
        • How many years you’ve been trading
        • Your earnings for either the last three, two or one years (whichever is applicable)
        • If a partnership – add your share of the business
        • If a director – indicate whether you want the calculations based on salary and dividends or retained profits
        • If a contractor – use your day rate and days per week this applies to

        And that’s it! Our calculator will then show you, based on this information, how much you may be able to borrow for your mortgage.

        Our Broker-Matching Service Guaranteed!

        We want you to have complete confidence in our service, and get the best chance of securing your mortgage. We guarantee to get your mortgage approved where others can’t – or we’ll give you £100*

        Learn More

        Calculating your self-employed mortgage repayments

        Now you have an indication of how much you can borrow you can use these amounts to see what your monthly mortgage repayments could be by using our repayment calculator here.

        Just input the mortgage amount you’re looking to borrow along with an interest rate and loan term.

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        Mortgage Repayment Calculator

        Our mortgage repayment calculator can tell you how much your mortgage will cost you each month and overall. Enter the amount you’re borrowing, the term length and interest rate, and our calculator will do the rest.


        Enter the amount you're borrowing
        £
        2.5% is an average figure but the rate you get may vary
        %
        25 years is average, but most lenders offer longer and shorter terms
        years

        Monthly Repayments:

        Total amount paid at end of term:

        Get started with an expert broker to find out how much they could help you save on your mortgage repayments.

        What you should do next

        Now you’ve got a clearer idea of how much you can borrow using our self-employed mortgage calculator and been able to work out what the repayments could be you’re ready to take the next step and secure the mortgage you need.

        The shrewd move now is to speak with a mortgage broker who has experience arranging mortgages for people who are self-employed. They’ll identify the best mortgage lenders to approach, saving you time and, potentially, some money too.

        So, get in touch or give us a call on 0808 189 0463 and we’ll arrange for a specialist advisor to contact you straight away.

        Ask Us A Question

        We can help! We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Self Employed Mortgages. Ask us a question and we'll get the best expert to help

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        Pete Mugleston

        Mortgage Expert, MD

        About the author

        Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

        Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us as well as any of our own are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.