Getting a Mortgage with Only One Year’s Accounts: What You Need to Know

For many self-employed individuals and limited company directors, the dream of homeownership can feel just out of reach — especially when you’ve only got one year’s trading history. Traditional lenders often prefer at least two or three years of accounts, but that doesn’t mean getting a mortgage is impossible.

At Mortgage321, we specialise in helping clients with non-conforming circumstances — including those who’ve recently gone self-employed or incorporated their business. With over 30 years of experience, we know which lenders are open to flexible approaches and how to present your case in the best possible light.

Why Lenders Prefer Two Years of Accounts

From a lender’s perspective, two or more years of accounts demonstrate a pattern of income and stability. It helps them see that your business is sustainable and your income reliable.

However, for many newly self-employed professionals or directors, that requirement doesn’t reflect reality.

You may have:

• Transitioned from employed to self-employed in the same industry
  
• Set up a limited company after years of contracting or sole trading
  
• Experienced strong early profits but haven’t yet completed a second financial year
  

Fortunately, the lending landscape has evolved — and that’s where we come in.

Getting a Mortgage with Only One Year’s Accounts

While high-street lenders may decline such cases, several specialist and intermediary-only lenders are willing to consider applicants with a single year’s accounts — provided the case is well-packaged and supported by clear documentation.

Depending on your circumstances, lenders may assess:

• Latest year’s net profit or director’s salary plus dividends
  
• Accountant-certified projections (for growing businesses)
  
• SA302s and Tax Year Overviews from HMRC
  
• Business bank statements to evidence turnover stability
  
• Employment background (for example, if you’ve moved from PAYE to self-employment in the same trade)
  

At Mortgage321, we know which lenders can accommodate these nuances — from self-employed sole traders through to directors of newly formed limited companies.

How Mortgage321 Can Help

We understand that every business — and every client — is different. That’s why we take the time to review your full financial picture, not just the numbers on paper.

Our role includes:

✅ Identifying lenders that will accept one year’s trading figures
✅ Working with your accountant to ensure your documents are lender-ready
✅ Highlighting strengths such as consistent income, industry experience, or future contracts
✅ Presenting your case in a way that makes sense to underwriters
✅ Managing the full mortgage process from initial assessment to completion

Even if your situation doesn’t fit a “standard” profile, our expertise in specialist mortgage lending means we can often secure solutions where others say no.

Example Scenarios We Regularly Help With

• A contractor who’s recently gone limited but has years of experience in the same role
  
• A self-employed tradesperson with one strong year of accounts and a growing order book
  
• A company director taking modest dividends but showing strong retained profits
  
• A business owner returning to self-employment after a career break or partnership change
  

Each of these situations can be navigated with the right advice and lender choice.

Final Thoughts

Getting a mortgage with only one year’s accounts is entirely possible — it just requires the right approach and access to the right lenders.

At Mortgage321, we specialise in helping self-employed clients, contractors, and company directors secure mortgages tailored to their unique circumstances. Whether you’re buying your first home, remortgaging, or investing through your company, we’ll guide you through every step with clarity and confidence.

 
📞 Talk to a professional today

If you’ve only got one year’s accounts and want to explore your mortgage options, get in touch with Mortgage321.

We’ll assess your eligibility, outline what’s achievable, and help you secure a solution that works for you and your business.

👉 Call 0800 612 8292 or visit www.mortgage321.co.uk to arrange a consultation.