Can Contractors Get a Mortgage Without 3 Years of Accounts?

Can Contractors Get a Mortgage Without 3 Years of Accounts?

Blog Article

Many contractors believe they need three years of accounts to qualify for a mortgage—but that’s not always the case. While some traditional lenders stick to this rule, there are contractor-friendly lenders who offer flexible alternatives.

What Do Lenders Really Look For?
Instead of focusing strictly on your trading history, many specialist lenders assess your current contract rate, industry experience, and financial stability. If you’ve recently started contracting but have worked in the same field as a full-time employee, some lenders will still consider you.

Some lenders may accept:

12 months of contracting history

Your current contract, showing income and duration

Day rate multiplied by working weeks (e.g., 5 days × 48 weeks)

This flexibility is especially helpful for new contractors who are financially stable but lack long trading histories.

Limited Company vs Umbrella
If you’re operating through a limited company, lenders might ask for company accounts, salary, and dividends. However, if you’re with an umbrella company, your payslips could be used instead—making the process easier.

The key is showing consistent income, even if it’s from different sources.

How a Contractor Mortgage Broker Helps
Specialist brokers know exactly which lenders accept less than three years of accounts. They’ll match you with the right mortgage product and help present your case effectively to the lender.

Conclusion
Yes, you can get a contractor mortgage without three years of accounts. With the right advice and lender, even new contractors can secure great mortgage deals.

Looking for support? Contractor Mortgage Solutions is here to help you find a mortgage that suits your unique situation—no matter how long you’ve been contracting.