Navigating Mortgages with One Year of Self-Employment: What You Need to Know

Becoming self-employed opens the door to independence and flexibility — but it can also make the path to homeownership more complex, especially if you’ve only recently made the leap. If you’re wondering whether you can get a mortgage with just one year of self-employment, the answer is: yes, it’s possible — but it requires preparation, strategy, and the right advice.

At Mallard Mortgages, we specialise in helping self-employed individuals secure mortgages, even early in their entrepreneurial journey. Here’s what you need to know.

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Why Most Lenders Prefer Two Years of Accounts

Most high-street lenders like to see two to three years of trading history to ensure income stability and reduce their risk. They’ll usually ask for:

• SA302 forms or tax calculations
• Finalised accounts
• Bank statements

But if you’ve only completed one full tax year, don’t worry — you still have options.

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Getting a Mortgage with One Year of Self-Employment

Some lenders do accept one year of accounts, particularly if:

• You have previous experience in your field (e.g. moved from employment to contracting)
• You’ve returned to self-employment after a brief hiatus
• Your business is showing strong early profitability
• You have a good deposit (10% or more)

We work with a panel of lenders who understand that the traditional approach doesn’t always fit modern working lives. These specialist lenders take a case-by-case approach, assessing your individual circumstances rather than relying solely on a rigid set of criteria.

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Key Documents You’ll Need

To strengthen your application, be prepared to provide:

• SA302s and Tax Year Overviews from HMRC for your completed year
• Signed accounts from a qualified accountant
• Business bank statements (usually 3-6 months)
• Proof of deposit and ID documents

If your income has grown quickly, you may also want to include a projected income letter from your accountant.

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Tips for Success

1. Use a specialist broker – Not all lenders will consider you, but we know the ones who will.
2. Keep your finances tidy – Lenders like to see consistent income and low debt.
3. Build your credit score – A good credit history can improve your chances.
4. Prepare early – Don’t wait until your dream home appears. Get mortgage-ready first.

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Let’s Talk About Your Mortgage Plans

If you’ve got just one year of self-employment under your belt, your dream of homeownership doesn’t have to wait. With the right guidance and access to flexible lenders, you might be much closer than you think.

Get in touch with Mallard Mortgages today for free, expert advice tailored to your self-employed journey.

📞 Call us on 0114 312 3550
📧 Email contact@mallardmortgages.co.uk
🌐 Or book a free consultation online: mallardmortgages.co.uk