Can I get a mortgage with 1 Years accounts?

Can I get mortgage

Being self-employed is a great feeling, the freedom to work how and when you want – and to top this off, you have made it to your business’s first birthday! So the question here is ‘Can I get a mortgage with 1 years accounts?’

So now you’ve made it, you are wanting to consider your mortgage options.  Well, the good news is that there could be some – and the bad news is the options are limited.

Let’s break this down as there few types of self employment.  Sole traders, Limited Companies, CIS contractors and Contractors.

Which one of those you are will depend on how the lender will review your case.  We do look at all of these in more detail in other articles but here is brief overview of each.

Sole Trader Mortgages with 1 Years’ Accounts?

This is possible.  The choice of lenders is limited but there are lenders that will consider the application.  It is important to understand that the lenders will use your NET profits, not the turn over for their calculations. So, if you’ve offset a lot with expenses then this can impact your affordability.

Review our sole trader blog here.

Limited Company Director Mortgages with 1 Years’ Accounts?

Again, this is possible. Lenders will look to use your Salary and Dividends or salary and share of net profits, typically after corporation tax. Although, there some lender that will use pre tax profits.

CIS Contractor Mortgages with 1 Years’ accounts?

Well, some lenders will use your income after 3 to 6 months and use your gross earnings before the tax.  Again, not all lenders will do this but it can give you boost with your affordability

Review our CIS contractor blog here.

Contractor Mortgages with 1 one Years’ accounts?

Depending on the terms of your contract, some lenders may consider the use of your day rate, this is typically £250.00 per day or £50,000 per annum.  If this is case, then you’re in great situation as this can help to boost your affordability – if not then the lender will treat you as either a sole trader or limited company depending your situation.

Review our contractor blog here.

What’s Next?

So, hopefully we have now answered the question “can I get a mortgage with 1 years accounts’ because you might be able to.

Understanding your mortgage options is vital when applying for a mortgage, not only will it help ensure that you understand the mortgage you’re applying for, but will also ensure that you get the right mortgage for your needs.

Speaking with a mortgage broker is also a great idea, as a mortgage broker will be able to review all the lenders available to you and whether you tick all the boxes for that’s lenders criteria. Believe it or not, not every lender has the same policy!

We hope you found this article about Mortgages with one years accounts helpful and we wish you all the best with your mortgage application.

 if you would like to discuss your options with a friendly, professional human being, then our team at Robin Mortgage Design would be happy to help. Just give us a call on 0333 242 3863 or visit our contact us page, and fill out our online enquiry form.

Good Luck with your mortgage!

Written by Mark Travell, Director of Robin Mortgage Design


Now it’s time for the legal bit. YOUR HOME BE REPOSSESSED IF YOU DO NOT KEEP UP TO DATE WITH YOUR MORTGAGE PAYMENTS. Robin Mortgage may charge a fee for arranging your mortgage. A typical fee would be £395.00 but could be up £1,495.00 depending on your circumstances.

The information in this blog is only valid for the date it is written.