Latest Years Trading Figures Mortgage

If you are a sole trader or Limited company director and your income is increasing, our specialist team of advisors have access to mortgages lenders who will:

  • Accept profit figures from your latest tax year
  • Use dividends from your latest tax year
  • Accept figures from your latest Limited Company accounting year

If any of this applies to you, enquire now to be put in touch with one of our specialist advisors.

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Self employed people will regularly experience fluctuations in their income, these can be caused by many things from taking on new business to increase your profits or large capital purchases reducing your profit in one particular year and unforeseen events such as illness or injury.

Whether you are a Sole Trader or Limited company director, we have a wide range of lenders both high street and specialist who will consider using figures from your 2 years, 3 years and latest trading years.

As a mortgage is secured against your home/property it may be repossessed if you do not keep up the repayments.

Frequently Asked Questions

Any bank statements provided for a mortgage application must be no more than one month old and generally cover the last 3 months.

  • If you are a sole trader you will need one personal tax calculation which will show your profit from self-employment, this is sometimes referred to as your SA302’s. 
  • If you are a limited company director, you will need your limited company accounts which will show your operating profit before and after taxation along with your director’s remuneration and your personal tax calculations (SA302’s) which will show your income from employment and your dividends.
  • These documents are generally required to be no more than 18 months old and you will need 1 or 2 years of either of these documents.

Generally lenders will need to see your last 3 months bank statements unless this is for proof of deposit in which case they can request a longer period to show the build-up of funds.

There are many lenders that don’t have any requirements for length of current employment, and you can use just 1 month’s payslip – or even your employment contract if you’re yet to start.  However if you are looking to obtain a mortgage as a self-employed applicant lenders will need 1 year of accounting information and some lenders also need 2 years prior to this as an employee in the same industry.

Yes, whether you are a sole trader or a limited company director there are high street and specialist lenders who can obtain a mortgage with only one years accounts or using the latest years accounts alone if needed.

Yes, if you are a sole trader or limited company director most mortgage lenders either specialist or high street will accept a self-employed applicant with 2 years accounts. A specialist broker will find the right lender for you and the best way to present your income to the lenders.

Yes, there are high street and specialist lenders who can accept your latest years trading figures as a sole trader or limited company director. This can be helpful for many types of applicants where their business has recently had an upturn in income which is shown on the most recent set of accounts or personal tax calculation (SA302).

Yes, you can get a mortgage with 3 or more years of accounts, it may be easier for you to get approved for a mortgage as 3 years of accounts will give the provider more insight into your financial history and may make them more likely to make you a mortgage offer.

The reason why some lenders ask to see at least 3 years’ accounts is so that they can get a proper grasp on your financial status and see that you are consistently going to be able to repay the mortgage. The more information that they have about your financial past, means that you become more trustworthy in the eyes of lenders.

Although lenders may prefer that you have 3 years of accounts, we can also help you to get a mortgage with as little as 12 months of accounts. Speak to one of our advisors today!