Can I use my tax returns as proof of income for a mortgage?

john951159
john951159 Online Community Member Posts: 3 Listener
edited November 2023 in Coffee lounge 
 Can I use my tax returns as proof of income for a mortgage?

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  • bg844
    bg844 Online Community Member Posts: 3,883 Championing
    It shouldn't be a problem if you are self-employed, though every bank will have a different lending criteria.
  • MW123
    MW123 Scope Member Posts: 1,143 Championing

    @john951159

    For self-employed individuals, lenders evaluate the ability to repay a mortgage by scrutinising documents like tax returns and supporting materials, providing a glimpse into income over a specific period.  A standard expectation from mortgage lenders involves submitting certified accounts covering one to three years, demonstrating a consistent and dependable income history.

    Many lenders recognise the unique financial circumstances of self-employed individuals and have flexible criteria to accommodate them.

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