Can you still get a mortgage if you're self-employed?

Getting a mortgage is currently harder for everyone because of post-Covid nervousness among lenders – but your application won't be automatically turned down, provided you have the correct paperwork (more on that below) and your income hasn't dropped below what's required toqualify for a mortgage (lenders will only lend up to four and a half times your income). What is true is that under current circumstances, everyone, regardless of their employment particulars, needs a 15 per cent minimum deposit to successfully apply for a mortgage. The reason is not quite what you might think: partly, lenders are restricting the numbers of applications for high LTV mortgages because of staff shortages. No – a government grant for the self-employed will not count against you; what will count against you is the reduced amount of money coming in each month, since the grants only cover 80 per cent of earnings up to £2,500 a month, which mirrors the situation with furloughed employees.  Remember: lenders can't lend on hypothetical earnings, only on what they see in front them when you apply. So, if your earnings have dipped because of coronavirus and you've requested a grant, wait for your income to stabilise before applying. That means no maxed-out credit cards, no payday loans, and no payment holidays on any of your loans.  Absolutely – even more so than an employee applicant.