Accountant Letter for Self-Employed Mortgage Applications

Person with pen handing paper to sign

Are you self-employed and filing your own tax return(s)? Are you in the process of applying for a residential or buy-to-let mortgage? Getting a new mortgage or re-mortgage can be stressful and time-consuming. Along with an SA302 (or “proof of earnings”) from HMRC, many lenders are now also requesting a mortgage reference certificate letter from an accountant to verify your income and expenditure per tax year. At Mercian Accountants, this is where we can help – contact our friendly team today and see how we can assist you, or keep reading to find out more.

Why You Need an SA302 for Mortgage Applications

When applying for a residential mortgage, lenders typically require proof of income to assess your ability to repay the loan. Self-employed individuals who file their own tax returns need to provide SA302 forms as supporting evidence. The SA302 provides a summary of your tax calculation for a specific tax year – with details such as total income, tax liabilities, and tax paid. This provides lenders with a comprehensive overview of your financial situation.

If you want to invest in rental properties with a buy-to-let mortgage, lenders analyse the potential rental income generated by the property to determine loan affordability. While SA302 forms may not be mandatory for buy-to-let mortgage applications, some lenders may request them to verify your overall income and tax position. It is advisable to consult with your mortgage advisor to understand the specific requirements of your chosen lender.

How to Obtain Your SA302 for Mortgages

To get their SA302 for a specific tax year, self-filing individuals should request it from HMRC directly. Alternatively, one of our specialists can apply for an SA302 on your behalf.

There are two ways to obtain the document:

  • Online: You can access your SA302 form through the HMRC online portal. After logging into your personal tax account, you can view, download, and print your SA302 directly. This digital version is widely accepted by most lenders.
  • Paper Request: Alternatively, you can request a paper copy of your SA302 by contacting HMRC directly. The paper version may take longer to arrive, so it is advisable to plan ahead and allow for ample processing time.

Get an Accountant Reference Certificate for Mortgages

However, it doesn’t stop at the SA302 – many mortgage lenders are now also requesting reference certificate letters from accountants to support an applicant’s income records. Once we have a copy of your SA302, one of our qualified team members will conduct a full review of your records. If we agree with your income and expenditure calculations, we can then provide you with a mortgage reference letter to support the application with your lender. We can also outline why profit levels may have fluctuated (if applicable) over recent years, with reasonable explanations (e.g., there may have been extra investment in equipment, or there may have been exceptional circumstances, such as Covid-19).

We’ve already helped numerous sole traders and partnerships from varying industries with their mortgage journeys, so we know exactly what the major lenders require for self-employed mortgage applications. We can also offer lender recommendations and advice on mortgage application timings. Get in touch today, and see how we can help you.

Need Help with Self-Assessment Tax Returns?

If you need professional help submitting your self-assessment tax return, Mercian Accountants also provides specialist tax return services for the self-employed, contractors, freelancers, company directors, property investors, and more, in the UK. For professional advice, you can message us through our online form, call 01743 562430, or email