If you’re self employed in York, you might be wondering whether lenders will consider your application.

The good news is yes, it’s possible to get a Buy to Let mortgage when you work for yourself.

The key is being able to show stable income and meeting the lender’s affordability checks, which vary depending on the type of property you’re buying and your plans for the rental.

As a mortgage broker in York, we regularly help self employed clients secure Buy to Let mortgages in York, from sole traders and company directors to landlords who’ve made property their second income.

How do lenders assess self employed applicants?

For Buy to Let mortgages, most lenders focus primarily on the rental income the property is expected to generate.

This makes it slightly easier for self employed applicants compared to standard residential mortgages, where your income carries more weight.

That said, many lenders will still want to see that you have a separate income, especially if the rental property might be empty for short periods or if you’re not relying solely on the rent to cover costs.

You’ll typically need to show:

  • Proof of your self employed income (usually from tax returns or an accountant’s records).
  • How long have you been trading or running your business?
  • How much rental income the property is likely to produce.
  • Your overall financial position, including any debts or existing mortgages.

We’ll help you prepare these documents and match you with lenders who understand how self employed income works, especially if your earnings vary from year to year.

Do I need a minimum income?

Some lenders do set a minimum income requirement for Buy to Let mortgages, even if the rental income covers the mortgage payments.

This is usually to ensure you can handle any gaps in rent or property maintenance costs.

While the income threshold varies, many lenders take a flexible view if the property is expected to generate strong rental income or if you have other savings or equity.

If your self employed income is steady, even if it’s from a mix of sources, we’ll show lenders exactly how your finances work and which mortgage options are available.

How much deposit will I need?

Buy to Let mortgages in York typically require a larger deposit than residential ones.

Most lenders ask for at least 20% to 25%, though some may offer deals with more flexible terms depending on the property and the rental potential.

As a self employed applicant, you’ll need to show that this deposit comes from a clear source, whether it’s business savings, retained profit, or personal funds.

If the deposit is gifted or comes from a remortgage, we’ll help document that for the lender.

Can I use company income or retained profit?

If you’re a limited company director, some lenders will look beyond your basic salary and dividends and take retained profit into account.

Others focus solely on what you’ve drawn from the business.

This is where working with a mortgage advisor makes a real difference.

We know which lenders are more flexible with company accounts and how to present your income most strongly.

Date Last Edited: June 17, 2025