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Self-Employed Mortgage After 2 Yrs Accounts

Having trouble finding a self-employed mortgage as you've been trading for two years or less? Discover the options to get your mortgage approved.

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

Almas Uddin2023-05-09
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Self-Employed Mortgage After 2 Yrs Accounts

For self-employed people, if you have been trading for less than three years, you may have found it challenging to secure the right mortgage lending - but business finance broker are here to help!

As an independent whole-of-market broker, we work with a network of niche mortgage providers who can support lending requirements from self-employed applicants with less than the usual three-year requirement.

Our team has created this guide to help you understand how to secure a mortgage with less than three years of trading, and how to get the best deals.

For more advice and support, contact the team on 0330 304 3040 or drop us a message at [email protected].

Is it Possible to Get a Self-Employed Mortgage Two Years Accounts?

You absolutely can; the Revolution Brokers team works with clients every day in this exact scenario.

Many high street lenders will only consider applicants with three years of trading history, but there is a comprehensive network of lenders for whom two years of accounts are more than sufficient.

We even work with applicants who have been trading for less than two years, and leverage our experience and negotiating power to secure the most competitive rates available.

You'll almost certainly require a professional lender if you need a self employed mortgage with two years' worth of accounts.

That is because specialist lenders are more flexible in complicated instances, such as when you only have two years' worth of accounts.

We frequently talk with candidates other brokers or their banks have turned down because they lack three years of account history.

It might be frustrating, particularly when you've spotted a property and need to act quickly. Borrowers who have been misinformed about mortgages are more likely to experience this - but Revolution can help!

AboutAbout your mortgage
Single or joint mortgage?
What’s your yearly income?

Error: Yearly income income must be between £1 and £10,000,000.

Do you receive a regular bonus?

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about your mortgage

Based on your yearly income,
you may be able to borrow


Most lenders will let you borrow 4.5 times your annual salary so, as long as you have a standard 10% deposit, you should be able to borrow this much.


Depending on your personal circumstances, some lenders may let you borrow 5 times your salary.


Lenders usually cap the amount they lend at 5.5 times your salary, so it’s unlikely you’ll be able to borrow more than this.

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How Long Self-Employed to Get Mortgage Lending Do I Need to Be?

The maximum you can apply for depends on your line of work, and the affordability assessment criteria of the lender.

This is why it is so crucial to work with a specialist broker, who can recommend the right lenders who will be able to lend you the value you need.

Typically, the calculations are:

  • As a sole trader or trading as a partnership, based on how much net profit you received. This value is demonstrated by the filed accounts or the total income declared on your self-assessment tax return (SA302 form).
  • As a company director of a small limited company, the maximum loan will usually be based on your salary income and any dividends received.

Most lenders can offer up to 4-4.5 times your annual income. Others will work on a maximum of five times your earnings, and others even as high as six, depending on your income and meeting the other criteria.

How Can I Get the Best Rates on Mortgages for Self-Employed With 2 Years Accounts?

Mainstream lenders will often not offer competitive mortgage rates if you have been self-employed for less than three years. That is because they typically require a three-year minimum and use those accounts to calculate your average earnings.

However, specialist lenders are happy to lend to applicants with less than three years of self-employment history.

The crucial factor is to work with a broker who understands the market, and knows the lending criteria of the mortgage providers. We ensure you only apply to the lenders whose criteria you meet.

As a whole-of-market broker, the Revolution Brokers team can negotiate mortgage terms with any lender in the country without restrictions on which companies we can work with.

This opportunity means you have the broadest scope and can benefit from competitive mortgage offers not available on the open market.

What Are the Eligibility Criteria for a Self-Employed Mortgage Two Years Accounts?

Lenders will look at a range of factors, with your income being just one. Other considerations include:

  • Your credit score or credit history - if you have bad credit, you are best advised to work with a specialist lender.
  • The value of your deposit - you usually need at least a 5% deposit, but the higher the value, the more competitive the mortgage terms.
  • Your age - some lenders have limits on the maximum age of a new mortgage applicant, whereas others do not consider this a critical criteria.
  • What property you wish to buy - standard bricks and mortar properties are more accessible to mortgage than non-standard homes, such as those with a thatched roof. These usually require a niche lender with experience in non-standard constructions.

If you are concerned about your ability to meet any of these criteria and need support finding a niche lender, contact the Revolution team today.

Is it possible to get a self-employed mortgage with two years of self-assessment tax returns?

You certainly can; although you will have a smaller number of lenders to choose between, the Revolution Brokers team works with a network of mortgage lenders who can lend to self-employed applicants who have been trading for less than three years.

In some cases, they can lend to applicants with less than one year of trading history.

An expert broker can make all the difference in whether you're authorised or not. It's not always as simple as approaching a specialised lender directly.

If you only have two years of accounts, your application should be:

  • Placed with the best-suited lender
  • Meet the exact requirements of your lender
  • Negotiated to achieve the best possible rate based on your circumstances

You risk being turned down if your mortgage application isn't sent to the right lender. Specialist lenders must still meet specific requirements while evaluating your application, and they are not always an easy way to secure a mortgage.

Each candidate has their own set of circumstances.

Some lenders may be better suited to your financial situation than others.

This factor is why an expert mortgage broker's knowledge and expertise are vital because we'll know just which lender to submit your application to.

Do I Need an Accountant to Get a Self-Employed Mortgage?

Having an accountant can be beneficial, yet it is not always necessary.

Not everyone who is self-employed will use an accountant's services.

Having accounts signed off by a certified accountant, on the other hand, allows lenders to comprehend your revenue better. Your mortgage application will gain a lot of credibility if you hire an accountant!

Your SA302 paperwork, which may be downloaded from the HMRC internet or requested by mail, will undoubtedly be required.

As an official proof of your claimed income for a specific tax year, SA302 paperwork also establishes your income. If you have two years' worth of accounts, you should have two SA302 forms.

Specialist Support With Mortgages for Self-Employed With 2 Years Accounts

Contact the Revolution Finance Brokers team if you have a short trading history and are looking for a competitive self-employed mortgage.

We negotiate terms and lending for clients with as little as one year worth of self-employment history and can determine the right lenders to apply to and offer the best terms and rates on the market.

Contact our team today on 0330 304 3040 or drop us an email at [email protected].

Almas Uddin
Almas Uddin

Founder and Mortgage Advisor

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FCA disclaimer

The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature.

We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.

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