I’m Charles Calvert, a mortgage broker at Easy Mortgages. This is general information, not personal advice. Always check the figures against your own situation before you decide anything.
Hampshire has plenty of tradespeople, consultants, freelancers and limited company directors. A mortgage for self-employed applicants is absolutely possible — lenders just want clear evidence of sustainable income rather than a single month’s invoice.
Bank Rate has been rising through 2022 and new fixed deals have been adjusting with it, so it pays to sense-check affordability carefully before you offer.
What paperwork lenders usually ask for
- Sole traders and partnerships: often one or two years of SA302s and Tax Year Overviews, sometimes accountant-certified accounts.
- Limited company directors: salary and dividends are the usual starting point; some lenders can consider retained profit depending on the case.
- CIS and contractors: recent payment statements and a track record with agencies or clients, plus an understanding of gaps between contracts.
Criteria vary widely. Some lenders want two full years; others can work with a strong one-year track record and a solid deposit. That is why packaging the file to the right lender matters more than sending the same pack everywhere.
Common sticking points
Big year-to-year swings, heavy use of allowances that shrink taxable profit, or mixing personal and business spending can confuse automated underwriting. Newly incorporated companies, recent switches from sole trade to limited, or income heavily reliant on one client also need a clear explanation. None of these automatically mean “no” — they mean “choose the lender carefully”.
Where trading was disrupted during the pandemic, some lenders still ask how income has recovered. Having a short written explanation and up-to-date figures ready saves delays.
Deposit and day-to-day banking
A stronger deposit still helps, just as it does for employed buyers — and it can matter more while pricing is rising. Lenders also look at how you run your accounts: regular unexplained cash deposits, returned payments or thin business banking history can raise questions. Tidying the picture before you apply is often more useful than hunting for a marginally lower headline rate.
Local context
From Fareham trades to Portsmouth consultants and Southampton freelancers, the questions are the same: can you evidence sustainable income, and does the property valuation stack up? I see a lot of Hampshire self-employed cases and the successful ones usually arrive with organised documents rather than a shoebox of invoices.
Fees
Initial conversations carry no fee and no obligation. Purchase cases arranged through me are £495 and remortgages £299, payable on full offer. Specialist or complex adverse cases may be £895.
Contractors and umbrella companies
Day-rate contractors sometimes want lenders to use a multiple of the day rate rather than last year’s accounts. Some specialist lenders will; many high-street names will not. Umbrella company income is often treated more like employment, but you still need consistent payslips and a clear contract history. Bring the last few months of statements and contracts to the first chat so we can see which panel fits.
How many years of figures?
Two years remains the comfort zone for many lenders. Strong one-year cases with a larger deposit and clean credit can still work. Brand-new businesses with only a few months of trading usually need to wait or look at very specialist options. If you are about to incorporate or change how you pay yourself, talk to your accountant and broker before you rearrange drawings mid-purchase — timing affects what underwriters can use.
For Hampshire trades especially, seasonal income is normal. Lenders prefer a clear explanation and averages they can defend, not a single bumper month presented as typical.
A quick Hampshire checklist
Before you act on anything in this article, write down your target property price or current balance, your deposit or equity, your deal end date if you have one, and the monthly payment you could comfortably afford if rates moved again. Bring that note to a broker chat and we can turn it into live illustrations. Easy Mortgages is based in Fareham and works with clients across Gosport, Portsmouth, Southampton and the wider county.
None of the examples here are a personal recommendation. Products, criteria and tax rules change, and your credit file and income decide what is actually available. A short conversation usually clarifies more than another hour of search results.
Next step
If you can share recent accounts or SA302s, I can give a clear view of realistic borrowing before you start viewing homes across Hampshire.
If you would like to talk this through for your own numbers, you can get in touch here or email contact@easy-mortgages.co.uk. I am based in Fareham and help clients across Hampshire.