Self-employed Mortgage Calculator

Self-employed and want to know how much you could borrow on mortgage? You’re in the right place. Our self-employed mortgage calculator will show you how much you could borrow on a mortgage.

Speak to one of our Mortgages experts to get a more detailed idea of what you can borrow, based on your unique situation.

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You may have to pay an early repayment charge if you remortgage.
Your home could be repossessed if you don’t keep up repayments on your mortgage.
This calculator is only an estimate of how much you may be able to borrow. Talk to a mortgage broker or lender to get a more accurate figure.

Your Results

Here are the details of what your mortgage could look like. From how much you can borrow, to what you monthly repayment could be.

Your Mortgage

Based on what you have entered this is the mortgage you’re likely to be offered.

How is this calculated?

Your monthly repayment

This is a rough guide to what your monthly repayment could be. We work this out based on the interest rate you entered and the mortgage length.

How is this calculated?

Your Loan to Value

If you increased your deposit by your LTV would be , this is likely to give you a better mortgage rate.

How is this calculated?

Got questions

Can I get a mortgage as a self-employed person?

Yes, it's absolutely possible to get a mortgage when you're employed. It can be more difficult than if you’re full-time employed, but you can still get a mortgage if you’re self-employed

If you’re full-time employed, lenders usually ask for just three month’s worth of payslips to prove your income. But if you’re self-employed, most lenders ask to see three year’s worth of your accounts to prove your income. 

If you’re self-employed, it’s always a good idea to get a specialist mortgage broker, someone who has a proven track record of getting a mortgage for people in the same position as you. They’ll have the experience and the knowledge of which specialist lenders to approach to get you the right mortgage. 

Read our Self-Employed Mortgage Guide for lots of info on how being self-employed affects your mortgage application and what to do.

How does being self-employed affect my mortgage application?

Being self-employed means you’ll have to prove your income differently to full-time employed people applying for a mortgage. Often, you’ll need to give your broker or lender more details of your income. You’ll have to show you can afford a mortgage by giving as much proof of your income as you can. That usually includes:

  • Company accounts

  • SA302

  • Tax returns – a SA202

  • Tax year overview

  • Company accounts

  • Reference from your accountant 

Full-time employed people can just give three month’s worth of payslips and their bank statements, which is a bit easier and less documentation than self-employed people.

How much can I afford to borrow on a mortgage if I’m self-employed?

This will depend on a few different things:

  • your income

  • your outgoings

  • your credit history

  • the kind of property you want to buy. 

You shouldn’t be able to borrow any less if you’re self-employed compared to if you’re full-time employed. 

Lenders work out how much they’re willing to lend to you by doing an affordability check. This is when they look at your bank statements and your credit history to see what your income is, your outgoings and if you have any past credit issues or debts.

How do I calculate my self-employed income?

  1. Work out how much the total amount you earned in the assessment period

  2. Subtract any permitted expenses – this is money you had to pay in order to run your business

  3. Subtract money you have put aside for taxes and national insurance

  4. Deduct money you have paid towards your private pension

  5. Deduct losses from previous assessment periods

Your accountant or HMRC should be able to help with your calculations.

How much tax do I need to pay as a self-employed person in the UK?

When you’re self-employed, you will pay income tax on your profits. People who are employed by someone else, pay taxes on their total income.

Work out your profits by subtracting your business expenses from your total income. The rate you will pay depends on the tax band you are in.


Taxable profits

What you will pay

Personal allowance: 0%

£0 to £12,570

You will pay zero income tax on your profits

Basic rate: 20%


You will have to pay 20% tax on your profits

Higher rate: 40%


You will have to pay 40% tax on your profits

Additional rate: 45%

Over £150,000

You will have to pay 45% tax on your profits


Remember, the rate is only applied to the profit between the brackets, not your whole profit. So, assuming you take the full standard personal allowance, if your profit is £60,000 then this is what you will pay:

  • Zero tax on £12, 500

  • 20% tax on £37,500 (This is the difference between £12,500 and £50,000)

  • 40% on tax on £10,000 (This is the amount over £50,000)

Everyone’s circumstances are different, so it’s best to check with HMRC or your accountant to get a full picture of what you’ll pay.

Do I have a tax code if I’m self-employed?

If you’re self-employed, and all your income is taxed through self-assessment then you will not have a tax code. If you are employed as well as self-employed e.g you have a full-time job and freelance, then you’ll have a tax code.

How much should I earn before going fully self-employed?

There isn’t a set amount of money for you to earn before going self-employed. It depends how much you’re earning and how much money you need for your outgoings.

If you’re self-employed, you’re entitled to a tax-free personal allowance before you start getting charged tax. The standard personal allowance for the 2020/21 tax year is  £12,500. 

If you have more than one job and one is self-employed, you still only get one personal allowance. Your personal allowance is applied to what HMRC sees as your main employment. Typically, your personal allowance is applied to the job paying the most.

How does a self-employed mortgage calculator work?

When you’re self-employed, it can be sometimes tricky to figure out your overall income and your profit. Unlike full-time employed people, you don’t have a fixed wage or hourly pay. It’s important for self-employed people to know how much they actually earn, especially when it comes to figuring out what your mortgage payments are likely to be.

A self-employed mortgage calculator uses the information you put in to calculate what your mortgage repayments might be based on your income. When you use a self-employed mortgage calculator, you’ll usually be asked to put how much you get paid, your pension contribution and the business expenses to work out your affordability, and what your repayments are likely to be.

Should I have a pension if I’m self-employed?

You don’t have to have a pension as a self-employed person but you could consider it. According to a survey by National Employment Savings Trust (Nest), only 24% of self-employed people are actively saving into a pension.  

If you plan to stop working at a certain time you might want to consider  a pension to help you live comfortably after you retire.

useful links

Self-employed mortgage guides

Applying for a mortgage or understanding your options shouldn't be confusing, yet there are just so many myths doing the rounds and it's not easy to know where to turn to get the right advice.

Have you tried our other mortgage calculators?

Our calculators give you an idea of what you might be able to borrow, what's affordable and a rough estimate of the kind of property prices you can start to look at.

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