Helping The Self-Employed | A Growing Market With Evolving Needs
Self-employment is no longer a niche. Rest Less reports that 4.37 million people in the UK were self-employed in 2023. This included 1.60 million women and 2.77 million men. IPSE highlights around 4.2 million solo self-employed people, with the average age now 49. Yet self-employment is not only for experienced professionals. A 2024 survey of over 3,000 UK residents aged 16–26 found 69% plan to freelance or start a side business. Of these, 59% intend to do so within the year. With more people choosing flexible careers, brokers must assess complex income profiles and provide tailored mortgage solutions.
Why Self-Employed Clients Need Specialist Support
Mainstream lenders prefer predictable monthly salaries. Freelancers, contractors and company directors often lack these and must prove affordability. HMRC allows self-employed applicants to request SA302 tax calculations for the past four years. Pepper Money states lenders usually require two or three years of SA302s, tax year overviews and signed business accounts. They also request bank statements and proof of identity. Keeping accounts separate, paying debts, and filing tax returns on time can strengthen applications.
Not all clients will have two years of records. FreeAgent explains that some lenders accept two years’ accounts and may consider applicants with a higher deposit. Where only one year is available, evidence of future contracts or stable client relationships helps. A strong credit history also improves outcomes. Skilled brokers present these applications in ways that highlight repayment ability.
How Business Structure Influences Income Assessment
Self-employment spans different legal structures, each assessed differently:
Sole trader – The individual and business are one. Lenders review profits and SA302s, usually averaged over two or three years. If income is rising, an average may apply; if falling, the latest figure may be used.
Partnership or LLP – Each partner’s share of profits is assessed. Clear accounts confirming each share help lenders judge affordability.
Limited company – The company is separate. Lenders focus on the director’s salary and dividends. Some may also consider retained profits. Detailed accounts and dividend records are key.
Understanding these details allows brokers to match clients with lenders comfortable with each structure.
A Diverse and Growing Client Base
IPSE found that the solo self-employed contributed £331 billion to the UK economy in 2023. Half are aged 40–59, though more under-40s and Gen Z are entering self-employment. Rest Less notes: 23% of the self-employed are 60 or older. A Fiverr survey shows young people view self-employment as flexible and stable. Brokers therefore meet first-time buyers, start-ups, downsizers and entrepreneurs, each with unique income patterns.
The Opportunity for Brokers – And How Connect Helps
Meeting this demand requires more than product knowledge; it demands a network that empowers advisers to thrive. Connect Mortgage Network isn’t just a trading style; it’s a dynamic ecosystem designed to empower mortgage professionals. Instead of delivering occasional leads, Connect provides sustainable, high‑quality lead generation and believes in the philosophy: “Give someone a lead, and they close a deal. Teach them how to build a pipeline, and they grow a business.”
Key Benefits of Joining Connect Mortgage Network
| Area | Data / Offer | Source |
|---|---|---|
| Lender access | 200+ lenders and providers, including exclusives | Connect Network reasons |
| Product range | Residential, buy‑to‑let, commercial & bridging loans; specialist options like equity release and expat mortgages | Connect Network product list |
| pport & tools | Placement & case‑management services; cutting‑edge CRM technology; compliance support and training | Connect Network features |
| unity & growth | Forward‑thinking community, tailored marketing, real compliance support and exclusive insights | Connect Network ethos |
| wards | Voted Network of the Year and Distributor of the Year at the 2024 Mortgage Introducer Awards | Connect Network awards |
Connect combines AI‑driven efficiency with real human expertise. Whether you’re a seasoned adviser seeking new growth, a growing independent, or an aspiring mortgage professional, Connect offers tailored pathways and comprehensive training.
Helping Self-Employed Clients and Growing Your Business
Helping self-employed borrowers means presenting well-prepared applications. Advisers should encourage clients to keep accounts organised, reduce debts, separate finances and plan for a healthy deposit. Business structure, credit history, and evidence of steady contracts all matter.
At Connect Mortgage Network, we give brokers the tools to manage these challenges. With advanced technology, training and expert support, you can turn complex cases into successful completions. The self-employed market is expanding, and now is the ideal time to specialise in this area with Connect.
Thank you for reading our “Helping The Self-Employed | Why Clients Need a Broker.” Stay “Connect“-ed for more updates soon!