Illustrative example. This story is a composite based on real adviser experience with cases of this type. Names, locations and specific figures have been changed or generalised — it does not represent a single identifiable client. General lender criteria referenced are indicative only and change frequently. For a case tailored to your own circumstances, speak to an adviser.
Raj P.
With just one year of self-employed accounts, Raj thought getting a mortgage was impossible. The Mortgage Genie knew exactly which lenders would say yes.
"Being self-employed for just over a year, I thought getting a mortgage was impossible. The Mortgage Genie knew exactly which lenders would accept one year's accounts. Professional, knowledgeable, and didn't cost me anything."
— Raj P., Leicester
14 Months
Trading History
£275,000
Property Price
4.49%
Rate Secured
7 Weeks
Time to Keys
The Situation
Raj had left his corporate IT job 14 months earlier to start his own web development consultancy. Business was going well — he was earning more than his previous salary — but he'd only filed one year of self-assessment accounts. He and his wife wanted to buy their first home in Leicester.
The Challenge
Most high street lenders require 2-3 years of self-employed accounts. Raj had been told by his bank to 'come back next year.' He was frustrated because he could clearly afford the mortgage — he just couldn't prove it in the way most lenders required.
How We Helped
Raj's The Mortgage Genie advisor specialised in self-employed mortgages and knew exactly which lenders accept just one year of accounts, or even less with the right documentation. They found a lender who would use Raj's SA302 from his first year of trading, combined with his current contracts, to assess affordability. The rate was competitive — only marginally above mainstream rates.
The Outcome
Raj and his wife were approved and completed on a 3-bedroom semi in Oadby, Leicester. Monthly payments were comfortable, and his advisor set up income protection insurance to safeguard against illness or injury affecting his self-employed income.
Their Journey Timeline
Online Form
Raj submitted his details, explaining his self-employed situation.
Self-Employed Review
Advisor reviewed SA302, business bank statements, and current contracts.
Lender Matched
Identified 4 lenders accepting 1 year's accounts; recommended the best.
Application & Offer
Application submitted Monday, offer received in 18 working days.
Completion
Keys collected 7 weeks from initial enquiry.
"As someone who's self-employed, I thought getting a mortgage would be a nightmare. My bank literally told me to come back in a year. The Mortgage Genie understood my situation straight away and found a lender within 24 hours. The whole process was smooth, professional, and — best of all — free to start. I'd recommend them to any self-employed person looking to buy."
Raj P. — Leicester
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