If you have not yet completed a year of trading and have the accounts for the year, then you will not be able to obtain a mortgage using that income for affordability. There are very occasional exceptions to that rule. For example, if you are a contractor in an industry like IT and were previously employed in the same field of work. However, in almost all cases, you will need to wait until you have at least one year's accounts. Many lenders will need at least two years' accounts, so with only one, your options are limited.
Written by Polly GilbertUpdated over a week ago