For years, self-employed people in Ireland have been told that getting a mortgage is harder for them than for PAYE employees. The idea that banks prefer predictable salaries over fluctuating business income has become one of the most common myths in Irish lending.
The truth? Self-employed people can absolutely get approved for a mortgage. You just need to know what lenders look for — and how to present your income in the right way.
Every major lender in Ireland offers mortgage products for self-employed borrowers. The difference lies in documentation, not discrimination.
While PAYE employees submit payslips, a salary certificate, and employment summaries, self-employed applicants must provide:
At least two years of certified accounts
Tax returns and Form 11
An accountant’s letter confirming profitable trading and up-to-date tax affairs
Lenders focus on overall income stability, not perfection. They understand that business income can fluctuate — what matters is a clear, sustainable pattern of profit.
Most lenders prefer a two-year trading record, but that doesn’t mean you must wait that long.
If you’ve recently moved from PAYE employment into contracting or self-employment within the same field, lenders often use your previous salary as part of your assessment.
Start-ups with recurring revenue or long-term contracts may also qualify earlier if their accounts are strong and tax documentation is clear.
Transparency is key: lenders must see that your income is real, repeatable, and traceable.
Fluctuating income doesn’t automatically make you high-risk. Lenders assess affordability based on your average earnings, not just your best or worst year.
Evidence of good financial management — such as consistent savings, low personal debt, and clean bank statements — can significantly strengthen your application. If your income is seasonal or cyclical, an explanatory note from your accountant can help provide context.
Self-employed applicants are bound by the same Central Bank rules as everyone else — up to four times your income and 90% loan-to-value (LTV) for first-time buyers.
You can also qualify for Government schemes such as the Help to Buy and First Home Schemes, provided other criteria are met. Many self-employed buyers don’t realise these supports are available to them too.
When assessing a self-employed mortgage application, lenders focus on three things:
Stable trading – at least two years of accounts showing sustainable profit (unless you are a contractor).
Consistent tax compliance – Form 11, NOA and Tax Clearance Certificate for the most recent year.
Transparent banking – clear separation between personal and business accounts with no unexplained transactions or tax arrears.
The biggest reason self-employed mortgage applications get delayed or declined is avoidable mistakes, including:
Mixing personal and business finances
Large unexplained cash withdrawals
Gaps in tax filings or outstanding Revenue liabilities
Relying on once-off income such as grants or asset sales
Submitting incomplete or outdated accounts
Addressing these early — and ensuring your accountant’s documentation aligns with your own — can prevent last-minute issues.
While PAYE borrowers may manage a straightforward bank application, self-employed applicants benefit from working with a specialist mortgage broker.
Each lender interprets business income differently. An experienced broker will:
Present your accounts in a lender-friendly format
Anticipate potential questions or red flags
Match your profile with the right lender to save time and stress
This preparation not only strengthens your case but can also help you secure a better rate and faster approval. Ireland’s workforce is changing fast. Contractors, consultants, digital creators, and small-business owners now make up a major part of the economy — and lenders have evolved to reflect that reality.
With clean financial records, proper preparation, and the right broker on your side, self-employed buyers can access the same mortgage opportunities as anyone else.
Article by Margaret Barrett
Managing Director at Mortgage Navigators,