Yes, it’s possible — here’s how we used income projections to help a client buy their first home
The Challenge: One Year of Self-Employment and a Dream of Homeownership
At Emily’s Mortgage Services Ltd, we love helping clients who’ve been told “no” elsewhere. This case was no exception.
Our client had recently gone self-employed, running a growing business with strong income—but they’d only filed one year of accounts. Most high street lenders require at least two full years of trading history, and they were struggling to find anyone who would consider their situation.
They were understandably stressed. They had a property they loved, a solid deposit, and the monthly affordability was there. But the lack of trading history was stopping them in their tracks.
The Solution: Using Projected Income to Build the Case
After a detailed conversation to understand their financials, I realised we had a very strong case if we approached the right lender — one that accepts accountant’s projections in addition to submitted accounts.
Here’s how we made it work:
✅ What We Provided:
- 12 months of self-employed accounts (filed and verified)
- A signed income projection from the client’s accountant showing expected year 2 growth
- Bank statements to back up the income trend
- A clear business narrative (explaining what they do, growth plans, and sustainability)
- Personal and business credit reports showing strong conduct
I carefully packaged the application to show that the business had a solid foundation, consistent turnover, and a credible growth plan.
The Result: Mortgage Approved — and Quickly
We submitted the case to a specialist lender who was happy to:
- Accept one year of accounts, with projected year 2 income
- Assess the case manually with a common-sense underwriting approach
- Offer a competitive two-year fixed rate
The mortgage offer came back within a week, and my client is now moving into their new home — something they were told might not be possible for another 12 months.
Why It Worked
✅ We knew which lender to approach
✅ We worked closely with the client’s accountant
✅ We positioned the business story confidently
✅ We backed the case with evidence and made it easy for underwriters to say yes
Final Thoughts
If you’re self-employed with just one year of trading history, don’t give up. Lenders can be flexible — you just need someone who understands how to present your case in the best possible light.
Are you self-employed and struggling to get a mortgage?
Let’s talk. At Emily’s Mortgage Services Ltd, we specialise in helping business owners, freelancers, and sole traders secure the homes they deserve — even with limited accounts.
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