Self-Employed Mortgage With No Accounts: All You Need To Know

Self Employed Mortgage With No Accounts: All You Need To Know

Self-employed mortgage with no accounts can feel challenging, especially if you don’t have full accounts yet. Whether you’re newly self-employed, recently set up a limited company, or still waiting for your first year’s accounts to be finalised, there are still ways to secure a mortgage. The documentation you provide can affect your credit rating and the interest rate you are offered, so it’s important to understand what lenders are looking for.

While most high-street lenders prefer two or three years of trading history, there are specialist mortgage lenders who understand that every self-employed journey is different and they can consider your application even without traditional accounts. Some specialist mortgage providers are able to help self-employed applicants with no accounts, offering tailored solutions based on your unique circumstances.

This guide explains how to get a self-employed mortgage with no accounts, what alternative documents you can use, and how an experienced mortgage broker can help strengthen your application.

Introduction to Self-Employment and Mortgages

Self-employment is an increasingly popular way for people to take control of their careers, offering flexibility, independence, and the chance to build something of their own. However, when it comes to getting a mortgage, self-employed individuals often encounter unique challenges that employed borrowers may not face.

Mortgage lenders typically look for a stable, predictable income and a proven track record of earnings criteria that can be harder for self-employed applicants to demonstrate, especially if their income fluctuates or they have only recently started their business.

It’s important to understand that there isn’t a separate “self-employed mortgage” product. Instead, self-employed applicants apply for the same mortgages as those in traditional employment. The difference lies in how mortgage lenders assess your income and financial situation. Because there’s no employer to verify your salary, lenders must take a closer look at your business income, trading history, and overall financial stability.

This makes the mortgage application process more complex for self-employed borrowers, and it’s why working with a specialist mortgage broker can be invaluable. A broker experienced in self-employed mortgage applications can help you navigate lender requirements, present your income in the best possible light, and improve your chances of approval.

Having a good credit score and a strong track record of managing your finances are also crucial. Lenders want to see that you’re reliable and capable of meeting your mortgage repayments, so keeping your credit score healthy and your accounts in order will help you stand out as a strong self-employed applicant.

Can You Get a Mortgage If You’re Self-Employed with No Accounts?

Yes, but it can be more complex. Most lenders rely on accounts or tax returns to verify income, but some are willing to consider alternative forms of evidence. Lenders will look at your employment status whether you are self-employed, a contractor, or in another type of employment, but ultimately require you to provide evidence of your income.

If you’ve recently become self-employed, or you’ve only completed part of your first trading year, lenders may assess your affordability using other documentation such as contracts, invoices, or projected income statements. Regardless of your employment status, it is important to be able to provide evidence of your current financial situation.

While mainstream banks tend to be more cautious, specialist lenders are often more flexible and can manually underwrite cases based on a wider picture of your income and financial position.

Why Lenders Ask for Accounts

Mortgage lenders need to be confident that you can afford your repayments over the long term. Accounts prepared by a qualified accountant, along with SA302s and HMRC tax year overviews, give them a verified record of your earnings.

Without those, lenders look for other ways to assess your income stability for example, recent contracts, ongoing client relationships, or retained earnings if you operate through a limited company. You may need to provide proof of income through alternative documentation, such as contracts, bank statements, or financial projections, especially if you do not have formal accounts.

What to Do If You Have No Accounts Yet

If you don’t yet have full trading accounts, don’t panic you still have options. Typically, to be self-employed to get a mortgage, lenders want to see at least one or more years accounts as proof of income and financial stability. Here are the most common scenarios:

• Many lenders require two or more years accounts to demonstrate consistent income, but there are some who may consider applicants with just one year’s accounts or alternative evidence if you have been self-employed for a shorter period.
• If you have less than one year’s accounts, specialist lenders may still be able to help, though your options may be more limited.

1. You’ve Recently Gone Self-Employed

If you’ve just started trading, lenders may use your previous PAYE income (if you’ve moved from employment to self-employment in the same industry). Self-employed people who have recently started may need to provide more documentation to demonstrate their income. Some lenders accept evidence of ongoing work or contracts to demonstrate continuity of earnings.

2. You Have One Year of Trading

Many specialist lenders will consider applicants with just one years accounts or a year’s tax return, especially if your business is profitable and your credit history is solid. Providing at least a year’s tax return can help demonstrate your income to lenders. In some cases, lenders will use your first year’s net profit or salary/dividends as the basis for affordability.

3. You’re a Contractor or Freelancer

If you work on fixed-term or rolling contracts, lenders may assess income based on your day rate or contract value rather than accounts. Providing evidence of upcoming contracts can help demonstrate future income and improve your chances of approval. Typically, they’ll annualise your day rate (e.g., daily rate × 5 days × 46 weeks) to estimate income.

Alternative Documents Lenders May Accept

If you don’t have formal accounts, lenders may consider a range of alternative documents to verify your income and financial stability. Lenders may want to see evidence of your current income and reliable income streams to assess your borrowing capacity. These include:

• Signed contracts or client agreements showing ongoing work or future income
• Business bank statements (usually the most recent 3–6 months)
• Personal bank statements showing regular deposits from your business
• Invoices and payment records
• Accountant’s reference or letter confirming trading start date and projected income
• Tax return drafts (if the first year’s return hasn’t yet been filed)
• Company management accounts, if available
• Evidence of rental income as an additional source of income

Having a clear, consistent record of income and outgoings across your accounts can make a big difference.

Documents Required for Limited Company Directors

If you’re a limited company director and haven’t yet finalised your accounts, lenders may still consider your application based on alternative proof of income. Lenders may ask for evidence of self-employed income, including salary and dividend payments. Typical documentation may include:

• Latest business bank statements (3–6 months)
• Personal bank statements showing income withdrawals or dividends
• Proof of dividend payments
• Proof of shareholding and company registration details
• Signed contracts or invoices demonstrating trading income
• Draft or management accounts, if not yet submitted to Companies House
• Accountant’s certificate or letter confirming expected annual turnover and profit

Some specialist lenders will also consider retained profits or director’s loan repayments as part of income, depending on how your company is structured.

Documents Required for Sole Traders or Freelancers

If you operate as a sole trader or freelancer and are applying without accounts, lenders may still consider your application by using other forms of proof to confirm income stability, such as:

• Recent invoices or payment statements
• Bank statements (personal and business) showing regular trading income
• Proof of ongoing work or contracts
• Draft self-assessment figures or accountant’s projections
• Client letters or testimonials confirming continued work or retainer agreements

The key is demonstrating that your income is consistent and sustainable, even if you are applying without accounts and your income isn’t yet fully documented through formal accounts.

Mortgage Deals and Options

Self-employed individuals have access to a wide variety of mortgage deals, including popular options like fixed-rate and variable-rate mortgages. However, the mortgage application process for self-employed applicants can be more involved, as lenders often require more evidence to assess your income and financial stability. Most lenders will ask for at least two years’ worth of business accounts and a self-assessment tax return to verify your earnings and ensure you can afford the monthly repayments.

Fortunately, there are specialist lenders who understand the unique circumstances of self-employed borrowers. These lenders may offer more flexible self-employed mortgage criteria, such as accepting just one year’s accounts or considering a qualified accountant’s certification of your income. This flexibility can open up more mortgage deals and better rates for self-employed individuals, even if your trading history is relatively short.

Working with a mortgage broker who specialises in self-employed mortgages can make a significant difference. An experienced broker will know which lenders are most likely to accept your application, help you gather the right documentation, and ensure you’re matched with the best deal for your situation. By presenting your income and financial stability clearly, you can improve your chances of securing a mortgage that fits your needs.

Deposit Requirements and Affordability

When applying for self-employed mortgages, one of the key differences compared to employed applicants is the deposit requirement. Self-employed individuals are often asked to provide a larger deposit typically at least 10% to 15% of the property’s value. This is because lenders view self-employed borrowers as higher risk, and a bigger deposit helps to offset that risk by giving the lender more security.

In addition to saving for a larger deposit, self-employed applicants must also demonstrate that they can afford the mortgage repayments. Lenders will assess your affordability by looking at your income, outgoings, and overall financial stability. This usually means providing more evidence, such as business accounts, self-assessment tax returns, and proof of regular income. A good credit score and a strong credit history are also important, as they show lenders that you’re a responsible borrower.

Ultimately, the more evidence you can provide of your income and financial situation, the better your chances of getting a mortgage. By preparing your documents in advance and working with a lender or mortgage broker who understands self-employed mortgage requirements, you can put yourself in the best possible position to secure the mortgage you need.

Lenders That May Consider Self-Employed Borrowers with No Accounts

The following lenders are known for being more flexible with self-employed applicants or those with a short trading history. Many lenders have their own criteria and may offer different mortgage rate options depending on your documentation. Criteria can change, but these are common examples:

This table is for general guidance only. Lending criteria and documentation requirements can vary widely between lenders. The mortgage rate offered by each lender can also vary based on their assessment of your financial profile.

How a Mortgage Broker Can Help

Applying for a mortgage without full accounts can be time-consuming and confusing, especially when each lender has different requirements. A specialist mortgage broker can:

• Identify lenders that accept no-accounts or limited-accounts applications
• Present your income in the most favourable way
• Liaise directly with underwriters to explain your business circumstances
• Save you time by handling documentation and negotiation
• Improve your chances of approval with tailored advice
• Provide specialist advice tailored to self-employed applicants with no accounts

Working with a broker experienced in self-employed mortgages ensures your application highlights the full strength of your financial position even if your business is still in its early stages.

Tips for Improving Your Chances of Approval

1. Keep your finances organised — separate business and personal accounts.
2. Maintain a strong credit score — avoid missed payments or high credit utilisation.
3. Work with an accountant — even basic draft accounts can help support your case.
4. Show consistent trading income — lenders like to see stability, even over a short period.
5. Be transparent — explain your business plans and future income growth.

Tip: Self cert mortgages, which once allowed self-employed applicants to get a mortgage without proof of income, are no longer available. Today, providing thorough documentation of your income and finances is essential for approval.

Final Thoughts

Getting a self-employed mortgage with no accounts isn’t impossible, it just requires the right strategy and support. With alternative documentation, a clear income trail, and guidance from an experienced mortgage broker, you can still achieve mortgage approval and move forward with your property goals.

If you’re newly self-employed or haven’t yet completed your first year of trading, now is the perfect time to prepare. With the right advice, your mortgage options may be broader than you think.

Get help from an experienced mortgage broker.

You can speak to one of our specialist mortgage brokers who would be able to guide you through the process. They will advise if there is a lender available and the maximum loan amount based on your circumstances. We are a whole of market mortgage brokerage with access to all lenders. Call us on 01332 470400 or complete the form with your details for us to give you a call back.

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