Self-employed mortgages
Some lenders may consider you with one year's accounts or one year's tax return, whether you're a sole trader or a limited company director. Most still ask for two years, so choosing the right lender matters more than usual.
Written by Toby Quanstrom, Director, Quanstrom Financial · 2 November 2026
Recent case: a £666,000 mortgage for a director with one year's accounts, after other brokers had said no. Every case is different.
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The short answer
Yes, it may be possible. Most lenders want two full years of accounts or tax returns, because a longer track record shows your income is likely to continue. A smaller group may consider one year, usually where the business is trading well and you have a background in the same line of work.
With fewer lenders to choose from, and each setting its own rules on how much of your income it will use, the lender you choose can make a big difference to what you could borrow. Quanstrom Financial compares 90+ lenders and knows which may consider one year's figures.
Who we help
Every case is different. These are the situations Quanstrom Financial sees most often.
Read our guide: how to get a mortgage when you're self-employedYou've completed your first full year of trading and have one tax return or one set of accounts to show.
Moved from sole trader to limited company? Some lenders may look past the date you incorporated if the business and its ownership haven't changed.
Doing the same work you did as an employee? Some lenders may take that experience into account alongside your first year's figures.
Day-rate contractors, associate dentists and locums may be assessed on contracts or invoices rather than accounts, with some lenders.
What you'll need
The evidence depends on how you trade. These are the usual starting points, and the exact list depends on the lender.
One year's SA302 tax calculation and the matching tax year overview from HMRC. Lenders usually use your net profit, not your turnover, and some may accept their own accountant's certificate instead.
One year's full company accounts, prepared by a qualified accountant, plus your personal tax documents. Some lenders may use your salary plus your share of company profit, while others use salary and dividends.
Lenders generally want your latest accounts to be no more than 21 months old when you apply, along with recent business and personal bank statements.
One-year applications tend to get more questions. We explain your figures and background to the lender up front, so the underwriter sees the full picture.
What you may be able to borrow depends on your circumstances and lender criteria.
Company directors
Several lenders publish criteria that may let a limited company director use one year's accounts. Here's how six of them approach it. Each reads profit differently, and the minimum shareholding varies.
| Lender | Income used | Accounts used | Minimum shareholding |
|---|---|---|---|
| Generation Home | Salary and net profit after corporation tax | Latest year's accounts, including where only one year is available | 20% |
| Halifax | Salary and dividends | At least one full year's trading may be considered, assessed by an underwriter | 25% |
| HSBC | Salary and net profit after corporation tax | One year's accounts at 50% of earnings, or a two-year average at 100% | 25% |
| Newcastle Building Society | Salary and net profit before corporation tax | One year accepted up to 80% loan to value, otherwise a two-year average | 25% |
| Pepper Money | Salary and net profit after corporation tax | Latest year's accounts, including where only one year is available | Majority shareholder, otherwise salary and dividends are used |
| Principality Building Society | Salary and dividends | One year's accounts or an accountant's certificate, with a 25% deposit | 33% |
Lender criteria checked in 2026 and subject to change. Other lenders may also consider one year's accounts, and lending depends on your circumstances and each lender's criteria.
Compare all nine lenders in our guide to limited company director mortgages, or see how Quanstrom Financial works as a mortgage broker for limited company directors.
Illustrations
Most lenders work around 4.5 times income, and some may go up to 6.5 times depending on your circumstances. With one year's figures, some lenders may only use part of your income, so the lender you choose matters as much as the multiple. These illustrations show both.
One year's net profit of £60,000 on your SA302 could support borrowing of around £270,000 at 4.5 times income, or up to £390,000 at 6.5 times income with some lenders.
A £12,570 salary plus £30,000 of dividends is £42,570, or around £191,565 at 4.5 times. A lender that uses salary plus £80,000 of company profit after corporation tax would look at £92,570: around £416,565 at 4.5 times, or up to £601,705 at 6.5 times income with some lenders.
Illustrations only, not an offer of credit. What you could borrow depends on your circumstances, credit history and lender criteria.
Recent cases
How a lender reads your income can make a big difference to what you could borrow. Two recent examples:
Chris wanted to buy at £740,000 with one year's accounts and no income drawn from his company. An earlier company of his had been dissolved, with money owed to HMRC written off, and several brokers had turned him away. Toby placed the case with Pepper Money, which could use one year of salary and net profit for a majority shareholder and take a common-sense view of his history. Chris has since moved into his forever home.
Toby Quanstrom, January 2026
Ryan came to us three months after switching from sole trader to limited company. Because the business and its ownership hadn't changed, Will found a lender that used his self-employed figures from before the switch. Ryan has since moved into his new home.
Will Harrington, March 2026
Names changed. Every case is different, and lending depends on your circumstances and lender criteria.
Your advisers
You'll deal with the same small team from your first call through to completion.
Director and Mortgage Adviser
Over a decade in mortgages and protection, from high-street banks to a corporate brokerage, before setting up Quanstrom Financial. He runs it through a limited company himself, so he knows how a director's accounts look to a lender.
Speak to Toby →
Mortgage and Protection Adviser
Will spent over a decade as an estate agent in Eastbourne before becoming a mortgage adviser, so he understands the buying process from both sides.
Speak to Will →
Case Manager
Known to clients as Jessie, she manages every application from submission to completion, keeping you, your solicitor and your estate agent up to date.
Why Quanstrom Financial
One of the many things that sets him apart is immediately understanding the key elements of my situation and applying his expertise to find a rapid solution.
Dan C., about TobyHow it works
Five steps from your first call to completion. Quanstrom Financial handles the paperwork along the way.
Tell us how you trade, how long you've been self-employed and roughly what you earn. We'll explain which lenders may consider your figures.
Usually your latest SA302 tax calculation and tax year overview, company accounts if you trade through a limited company, and bank statements. The exact list depends on the lender.
We compare 90+ lenders and recommend a mortgage that suits how you're paid, explaining why.
Jessie submits your application and keeps it moving with the lender until your mortgage offer is issued.
Your solicitor completes the legal work, and you move in or your new deal starts.
Local and nationwide
Quanstrom Financial is based in Eastbourne and advises self-employed clients and company directors across East and West Sussex, Kent and the rest of the UK by phone and video, or in person by arrangement.
Can't see your question? Call us on 01323 364432 or book a free consultation.
Yes, it may be possible. Most lenders want two years, but a smaller group may consider one year's accounts or tax return, usually where the business is trading well. The choice of lenders is narrower, so it's worth speaking to a broker before you apply.
Some lenders may consider one year's SA302 tax calculation and tax year overview for sole traders and partners. They usually use your net profit rather than your turnover, and some may accept their own accountant's certificate instead.
Most lenders work around 4.5 times income, and some may go higher depending on your circumstances. With one year's figures, some lenders may only use part of your income, so the lender you choose can change what you could borrow.
The options narrow, but they don't always disappear. Some lenders may assess contractors on their day rate, and Accord, for example, looks for six months of contract work. Others may use an average of monthly invoices, or take your previous employed work in the same field into account.
If you work on a day rate, some lenders may assess your annualised contract value rather than your accounts, often your day rate x 5 days x 46 weeks. The contract history needed varies, from six months with some lenders to 12 months or more with others.
Not necessarily. Some high street lenders and building societies may consider one year's figures on their usual mortgage products, while specialist lenders may charge more. The rate you're offered depends on your circumstances, your deposit and the lender.
Yes. Your accountant prepares the figures lenders rely on, and some lenders may accept their own accountant's certificate. With your permission, Quanstrom Financial can speak to your accountant directly to gather what's needed.
Fees vary depending on your circumstances. Get in touch and we'll explain any costs clearly before you proceed. Your first consultation is free and there's no obligation.
Tell us how you trade, how long you've been self-employed and roughly what you earn. We'll explain which lenders may consider your figures and roughly what you could borrow. It's free, and there's no obligation.
or call 01323 364432
Your home may be repossessed if you do not keep up repayments on your mortgage.
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