Myth Buster: I Need to Be Trading for 2 Years to Get a Mortgage

Nov 14, 2025
3 min read

If you’re self-employed, you’ve probably heard this one before - “You can’t get a mortgage unless you’ve been trading for at least two years.”

It’s one of the most common myths out there. But the truth is, you don’t always need two full years of accounts to apply for a mortgage. Some lenders are happy to consider applications with just one year of trading history, provided you can show your business is stable and profitable.

At Endurance Mortgages, we specialise in helping self-employed professionals, freelancers, and company directors find lenders who understand that not everyone fits the traditional 9-to-5 mould.

1. Can You Really Get a Mortgage with One Year’s Accounts?

Yes - you can. While many high street banks prefer two or three years of accounts, specialist lenders and even some mainstream ones will consider just one year if the rest of your financial profile is strong.

That means if your business has been trading successfully for 12 months, you could still qualify for a mortgage - even if you’re newly self-employed.

2. What Do Lenders Look For?

Each lender is different, but generally they’ll assess:

Your income stability: Consistent or growing income gives lenders confidence.
Your documentation: SA302s, tax overviews, or company accounts prepared by a qualified accountant.
Your deposit: A larger deposit (10–15%) can help strengthen your application.
Your credit history: Clean credit and responsible borrowing can outweigh limited trading history.
Your industry: Lenders may be more flexible if you’ve moved from employment in the same field to self-employment.

If your business is on a solid upward trend and you can show good cash flow, you’re already in a strong position.

3. Types of Self-Employed Applicants Lenders Support

You could be eligible for a mortgage if you’re:

A sole trader with at least one year’s self-assessment tax return.
A limited company director with at least one year of company accounts.
A contractor or freelancer with active contracts or consistent renewal history.

Some lenders even use share of profit or retained earnings to calculate affordability - meaning you don’t have to draw all your income out of the business to qualify.

4. Why It’s a Good Time to Explore Your Options

In 2025, more lenders than ever are adapting to the UK’s growing self-employed market. They understand that modern work looks different - and that many successful buyers don’t fit traditional employment patterns.

If your first year in business has been strong, you could be in a better position than you realise.

5. How Endurance Mortgages Can Help

At Endurance Mortgages, we work closely with specialist lenders who cater to self-employed clients.

We’ll help you:

Find lenders who accept one year of trading history.
Present your accounts clearly to demonstrate affordability.
Understand what deposit and credit criteria apply to you.
Handle your application from start to finish - removing the stress and uncertainty.

Even if you’ve been turned away by a bank, we may be able to find the right alternative.

Final Thoughts

Don’t let the “two-year rule” stop you from exploring your options. With the right preparation, documentation, and lender, you can get a mortgage with just one year of trading history.

Key takeaways: ✓ Some lenders accept just one year of accounts. ✓ Strong income, credit, and deposit can make all the difference. ✓ Specialist advice helps you find lenders who understand the self-employed.

At Endurance Mortgages, we help business owners, freelancers, and contractors find mortgage solutions that reflect how they really earn - not just how long they’ve been trading. Contact us today!

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. Some Buy to Let mortgages are not regulated by the Financial Conduct Authority A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Endurance Mortgages Ltd is an appointed representative of The Right Mortgage Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales no. 15060351. Registered Address: Worting House, Church Lane, Basingstoke, Hampshire RG23 8PX.