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Mortgages For Gig Workers

Been refused a mortgage due to variable income as a gig worker? Independent guidance from the self-employed mortgage experts.

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

Almas Uddin2024-06-15
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Mortgages For Gig Workers

The gig economy is booming, with more and more people choosing to work freelance or take out contract work as a more flexible alternative to traditional employment.

However, the Revolution Finance team works with multiple clients who find that being a gig worker means they have found it challenging to find a mortgage or have been offered rates and terms that are not competitive.

We work with a wide variety of clients from all stages of their freelance careers. This guide gives you an overview of how mortgages for gig workers work and how to find the best deals on the market.

For more advice and assistance with finding the right mortgage product for you, give us a call on 0330 304 3040 or email the Revolution Finance Brokers team at [email protected].

Am I eligible for a mortgage as a gig worker?

You certainly are; although less common through mainstream lenders, the Revolution team works with a network of lenders who specialise in self-employed mortgages.

We regularly negotiate a diverse range of home loans and gig worker mortgages.

The first criterion is to establish what category of gig worker you fall into - typically, these are referred to as:

  • Sole traders - you run your own business.
  • Partnership - you are self-employed running a freelance gig with a partner or partners.
  • Limited company - you own a small, private business, where, as the owner, you are responsible for the company's debt, and have invested capital into the company.

With most high street lenders offering mortgage products most suited to those in traditional employment, if you have struggled to find a mortgage as a gig worker, get in touch, and we will run through the best options with you.

AboutAbout your mortgage
Single or joint mortgage?
What’s your yearly income?

Error: Yearly income income must be between £1 and £10,000,000.

Do you receive a regular bonus?

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about your mortgage

Based on your yearly income,
you may be able to borrow


Most lenders will let you borrow 4.5 times your annual salary so, as long as you have a standard 10% deposit, you should be able to borrow this much.


Depending on your personal circumstances, some lenders may let you borrow 5 times your salary.


Lenders usually cap the amount they lend at 5.5 times your salary, so it’s unlikely you’ll be able to borrow more than this.

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How Can a Self-Employed Mortgage Broker Help Me Get a Gig Worker Mortgage?

The biggest stumbling block for many gig workers is understanding the lending criteria before they make a mortgage application.

Every lender is different, so it is vital to apply to those mortgage providers who you know will consider your application and those who offer lending products that fit your requirements.

Most lenders will consider factors such as:

  • How much you earn, and will look for at least two years of accounts, ideally with increasing profit as the business grows.
  • Up to date and accurate figures showing your trading income.
  • Your expenses, to ensure that your obligations and outgoings remain affordable alongside mortgage repayments.
  • Credit scoring and credit history - this all depends on the lender, with many lenders being risk-averse when it comes to offering a mortgage to applicants with bad credit. However, Revolution works with specialist lenders who can still consider an offer to lend even if you have bad credit.
  • Whether the business has any debts, negative risk factors, and even considering things such as reviews and business ratings online.

Typically, it is easier to find a lender if you have been self-employed for three years or more, as this means you can demonstrate a more extended period of trading income.

Working with a specialist broker such as the Revolution Finance team expands your potential to apply to lenders who can consider less common circumstances, with mortgages available to applicants who have been trading for as little as one year.

Some lenders will look at future projections alongside trading history. This assessment can include looking at your anticipated future business, asking for copies of contracts, and seeing what qualifications, skills and accreditations you hold to validate the company's security.

What Documents Will I Need to Provide a Self-Employed Mortgage Broker?

Usually, you'll be asked for a range of documents:

  • Passport & ID to verify your identity.
  • Two to three years worth of accounts, sometimes including bank statements and invoices.
  • Up to three self-assessment tax returns (SA302 forms). Every lender will ask to see the most recent one, so sometimes it is necessary to file early to have a copy available.
  • Copies of contracts, either existing ones or anticipated new agreements.
  • Your CV to show your history and experience in your line of work.

For limited companies, you'll also need to provide copies of accounts filed with Companies House and will usually be asked for up to date management accounts.

Hence, it is wise to ensure your bookkeeping is up to date before applying for a mortgage.

How Can You Improve Your Chances of Getting a Mortgage When You're Self-Employed?

There are a few things you can do, which help a mortgage lender assess your application more easily:

  • Use a qualified accountant to prepare your accounts or financial statements.
  • Work with a whole-of-market mortgage broker who can offer recommendations.

How Much Can a Person Apply for Getting a Mortgage When You're Self-Employed?

Lenders will look at your business and use your trading structure as a basis on which to calculate what they can offer to lend:

  • For sole traders, a lender will look at your net income, or average earnings, over the last two to three years.
  • For partnerships, the lender will assess both your income, and that of your partner, or might work on an average income of each partner over the last two to three years.
  • For limited company owners, a mortgage lender will look at your salary, and dividends earned. Some lenders will also take into account the total net profit of the business.

How can I apply for a gig worker mortgage with a changeable income?

Most freelancers will have an income that changes from month to month. Mortgage providers will therefore work on averages and usually consider the most recent complete trading year.

Some lenders will also make an offer based on the year with the lowest income, within the last two to three years.

How to Get a Mortgage if Self-Employed UK Based?

The first step is to contact the Revolution Finance team - as a whole-of-market broker, we work with a wide range of lenders, including specialist providers who are experienced in lending to gig workers.

To improve your chances of approval, there are a few things you can do:

  • Offer a higher deposit. If you can put down 10-15%, you are more likely to receive a mortgage offer with competitive rates.
  • Demonstrate regular income. If you have consistent contracts or long-term contracts, these make your business income more stable. Significant gaps between work within the last year or two before making your application can make it more challenging to secure a home loan.
  • Keep excellent records. Your mortgage lender will ask to see information about your business's trading, including up to date records. Keeping all your documents to hand, having up to date accounts, and providing copies of contracts and bank statements will strengthen your application.
  • Make sure you can demonstrate affordability. A lender will compare your average income to your expenses, so if you can minimise your outgoings before applying for a mortgage or consider applying for a lower mortgage value, the easier the approval process will be.
  • Check on your credit rating. If you see any errors on your credit file, raise a dispute and get your obligations up to date before applying for a mortgage.
  • Use a specialist broker familiar with the gig economy and can recommend suitable lenders who can approve your application.

Expert Advice Getting a Mortgage With a Self-Employed Partner

As a business finance broker, Revolution Finance works with clients who have a deposit of as little as 10% and need to find a competitive mortgage that fits their self-employed income structure.

There are thousands of UK mortgage lenders offering self-employed mortgages, and provided you have support with constructing your application and collating information to evidence your income, there's no reason you can't find excellent mortgage rates as a gig worker.

Give us a call, or drop us a message to get started - 0330 304 3040 or email [email protected].

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

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FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature.

We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.

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