What period do the figures cover?
Put the trading start date beside the accounts period. A part-year snapshot and a complete trading year tell different stories.
Jack CousinsFinance Adviser & Consultancy · jackcousins.com
Lender-policy illustration · Residential
One year of self-employed accounts
A sole trader wants to buy a home after completing their first full trading year.
Illustrative situation · criteria checked
The policy that makes this worth discussing.
TML lists a 12-month minimum trading history. For 12–24 months of trading, the most recent year’s certified accounts or tax calculation and matching Tax Year Overview can evidence income. It also requires three months of business bank statements.
Keep in view: Loans over £1m require two years of income evidence. Credit, affordability and product conditions still apply.
Read the lender’s published source ↓Work through the brief, step by step.
A short trading history can still be worth discussing when the business has clear evidence of sustainable income.
Does current trading support the plan?
Bring a clear explanation of the work coming in and the business costs. Money entering a business account is not the same thing as personal disposable income.
What feels comfortable each month?
Consider the deposit, purchase costs and household commitments as well as the headline borrowing request.
These are practical questions for an advice conversation, rather than additional lender criteria.
Bring the facts together before deciding.
I would organise the trading history and evidence first, then compare the relevant routes. The point is to establish what the figures support before choosing a property budget.
Explore Self-employed mortgages ↗A useful place to start.
You can get in touch before every item is ready. These prompts help organise the discussion; checking them does not confirm eligibility.
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Lender criteria sources
Checked . These links lead to the lender’s intermediary information. Criteria can change; current access, product rules, affordability, credit and the property must be checked for the individual case.
- TML residential criteria guide ↗Page 3, Self Employed
No product rate, lending approval or completion timescale is promised.
Your next step
Does this sound like your situation?
Tell me where you are starting and what you would like to achieve.
Your home or property may be repossessed if you do not keep up repayments on your mortgage or other loans secured upon it.