GUIDES
Self-Employed Mortgage with 1 Year’s Accounts - GoMortgage®
Started your business recently? 1 year of accounts can still get you a mortgage.
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Self-Employed Mortgages - Self employed mortgage with 1 year accounts
Can you get a mortgage with only one year accounts?
What lenders will want to see
Access Your Credit Report
Knowing exactly what lenders see is the first step. Checkmyfile lets you view your full credit picture across all three UK agencies in one place, helping you spot issues, track progress, and avoid surprises before you apply.
What you can expect - borrowing power, deposit, rates & limitations
- Because you present less history, expect fewer lender options compared with standard applicants.
- Rates may be slightly higher or the lender may ask for a larger deposit or lower loan-to-value (LTV) to balance risk.
- Borrowing potential will depend heavily on your profitability from that single year – and evidence of consistent income flow (e.g. via company/ personal bank statements).
If your income is strong and you’ve kept business/personal finances clean, you may still access competitive products – but you may need to be more flexible on deposit or property type
How GoMortgage helps you succeed with 1-Year accounts
Here’s how we make this work when your trading history is short:
- Full review – we examine your accounts, SA302s, personal & business cashflow, deposit strength, liabilities – to build the strongest case.
- Lender matching – we know which lenders accept 1-year-account cases (specialist & flexible lenders), avoiding wasted applications.
- Application preparation & packaging – we package your documentation clearly (accounts, bank statements, explanation where needed) to give underwriters confidence.
- Advice on deposit & affordability strategies – if needed, we show you what loan size makes sense based on income and risk.
Honest guidance – if we think a 1-year accounts application isn’t strong enough yet, we’ll be straight with you – and may suggest waiting, increasing deposit, or drawing salary/dividends where relevant.
Good Practice Checklist for 1-Year Accounts Applicants
Before applying, try to:
- Ensure your accounts cover a full 12-month trading period. Partial years reduce lender confidence.
- Collect your SA302(s), tax overviews, bank statements (3–6 months personal and business).
- Build a deposit/equity buffer – higher deposit improves chances.
- Keep personal credit commitments low (loans, credit cards, etc) to improve affordability.
- If possible, be able to show some historical income stability (even if via previous employment or short-term contracts).
Get help from a specialist broker (like us) – we know exactly which lenders to approach and how to present your case effectively.
What to Watch - Risks & Limitations
- Limited lender pool – only some specialist lenders will accept retained-profit applications. Most mainstream/high-street lenders stick to salary + dividends only.
- Stricter underwriting – proof of profit, trend of profitability, shareholding, and proper accounts are usually required; rough or incomplete accounts may lead to rejection.
- Deposit / equity requirements may be higher – some retained-profit deals need stronger deposits or lower LTV compared with standard mortgages.
- Profit volatility matters – if profits fluctuate or are not consistent over years, lenders may take conservative approach or default to lower drawn income.
Ready to make it happen?
If you’ve got one full year of self-employment under your belt and you’re thinking about a mortgage – get in touch. Call GoMortgage on 01253 935050 or drop us an enquiry.
We’ll review your numbers, show you which lenders may accept your case, and build a plan that gives you the best shot at approval.GoMortgage® – because being self-employed shouldn’t hold you back from owning your home.
Thanks for reading our guide on Self employed mortgage with 1 year accounts.
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Author: Chris Days - Gomortgage
- 5 Mins
- Updated: Nov 17th 2025
Frequently Asked Questions
Is one year enough to prove self-employed income?
It can be – but it’s not guaranteed. You’ll likely need extra documentation (bank statements, clean credit, deposit) and may need a specialist lender.
Will interest rates be worse?
Often rates are slightly higher, or LTV may be restricted, but with good deposit and strong income it’s still possible to access competitive products.
What if my only year accounts show a loss or low profit?
That makes it much harder. Lenders want to see a profitable, stable business – a loss or minimal profit may lead to refusal, or require extra security (bigger deposit, guarantor, etc).
Can I get a mortgage if I was employed before starting my business?
Yes – lenders may consider previous employment income history to support applications when recent self-employed history is short.
Should I wait until I have 2–3 years of accounts?
If you can, that improves your options and rates. But if you need to buy now (house move, family build-up, etc), applying with 1 year accounts is still valid — especially with professional help.
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Speak With A Mortgage Advisor.
Contact our friendly mortgage advice team. Sound mortgage advice from the experts at GoMortgage.
