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Employed drivers can prove their income via payslips, but self-employed drivers have difficulty proving the same information to lenders. 

How is getting a mortgage different as a taxi driver?  

Income as a taxi driver can vary throughout the year, and works differently if you’re employed or self-employed. 

 For example, if you are a self-employed taxi driver, you may have a car purchase, car maintenance bills and insurance fees declared as expenses, where they are tax deductible, which in turn can reduce your net profits and subsequently the amount you can borrow from a lender. 

How can I improve my chances of being accepted? 

Generally, lenders look favourably on the correct proof of income being provided, so having this prepared before you submit your application is always a good idea. 

 You should also plan for the lowest level of affordability, usually three times your income, in order to not stretch your limits. 

For advice on getting a mortgage as a taxi driver, speak to one of our expert advisers who will be able to help you with the next steps.