Yes, you can get a mortgage with no accounts! It’ll be more difficult than if you had a few years’ accounts under your belt, but it’s absolutely possible. Usually, a mortgage lender will look at your average income over recent years to determine how much you can afford to pay and, therefore, how much you can borrow.
Lenders have a duty to lend responsibly and only give mortgages to people who are able to prove they can afford the repayments. Because of this, lenders will need to see proof of your income and ask for evidence t that you can afford your monthly repayments. They’ll want to see that you’ve got a proven track record, as well as solid earning projections.
Even when you have one years’ accounts, you will be able to show a lender that you have traded profitably over that period and back this up with further evidence that shows your income since the tax return was submitted. But if you’ve just gone self-employed, you won’t have accounts to share. In that case, the more evidence that you can give to a lender to support your application, the more likely that it is to be approved.
Working with a specialist mortgage broker is really important if you have no accounts because they’ve got experience securing mortgages for people like you.
That’s where we come in. Our Mortgage Experts have plenty of experience getting mortgages for newly self-employed people who don’t have accounts yet. They'll work hard to make make your application look as good as possible to lenders.
Getting a mortgage when you’re self-employed can be difficult. Mortgage lenders tend to prefer people in full-time employment because it’s easier for them to understand their income. But don't let anyone tell you that a self-employed mortgage isn't possible. Here's what you need to know.
We get how it feels when you’re refused a mortgage. We’ve been there. Haysto exists because the mortgage world is broken. If you don’t have a shiny credit rating, you’re self-employed with a complex income, or just don’t fit the mould, the odds are completely stacked against you. We just don’t think that’s fair.
Unlike others, we only work on bad credit, self-employed and complex mortgages. That’s all we do. And we’re up for a challenge.
No robots, no automated answers. We use technology to connect you to a real person. Not replace them.
We only get paid when your mortgage is approved.