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Can I get a self-employed mortgage with 1 year accounts?

Can I get a self-employed mortgage with 1 years accounts? Yes, it's absolutely possible to get a mortgage if you only have one year's accounts. It's true that the majority of lenders will want to see at least two years of accounts to approve a self-employed mortgage.

Do you qualify for a self-employed mortgage?

To decide whether you qualify for a self-employed mortgage, a lender will evaluate your net income — your gross income minus the costs you incur for doing business. Self-employed borrowers are sometimes confused by the term “gross income” because it’s calculated differently for people who earn wages than it is for the self-employed.

How long should a self-employed person be on a mortgage?

When mortgage lenders see a two-year history of self-employment income in the same industry, they’re more likely to approve the income and the home loan. From their point of view, two full years is a good indicator of your earning power for at least the next three years.

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