Can Contractors Get a Mortgage with Just One Year of Accounts?

Can Contractors Get a Mortgage with Just One Year of Accounts?

Blog Article

One of the biggest concerns for new contractors is whether they can get a mortgage with only one year of accounts. While many lenders prefer two to three years of financial history, the good news is that it’s absolutely possible to secure a mortgage with just one year — if you go through the right channels.

Understanding the Challenge
Most high street lenders apply strict criteria to self-employed applicants, including contractors. They often require at least two years of accounts, tax returns, and stable income records. This creates a barrier for new contractors who may have only recently left permanent employment.

How Specialist Lenders Are Different
At Contractor Mortgage Solutions, we work with lenders who take a more flexible and realistic approach. Instead of relying solely on your annual accounts, some lenders are willing to base their assessment on your current contract, day rate, and projected income.

This approach works particularly well for professionals who moved from a permanent job into contracting and have strong industry experience. If you can demonstrate a consistent income and ongoing work, lenders are more likely to view you as a reliable borrower — even with just 12 months of trading.

Tips to Improve Your Chances
Keep accurate records of your contracts, invoices, and bank statements.

Maintain a clean credit record and minimise debts before applying.

Work with a contractor mortgage specialist who can match you with flexible lenders.

We’re Here to Help
Don’t let your short trading history hold you back. With the right advice and lender connections, getting a mortgage with one year of accounts is completely achievable.

Get in touch with Contractor Mortgage Solutions today — we’ll help you find a lender who understands your situation and supports your homeownership goals.