Self Employed Mortgage, Recent Accounts.

[Sunshine2468]

We had a mortgage in principle from a company at the start of October based on our accounts for 19/20.
We have had an offer accepted on a property and now the company are saying we need the 20/21 accounts to proceed with the mortgage application. Normally we submit our accounts in December to the accountant and they file them for January.
Just wondering if this is normal, it's just over a month since the financial year ended. Seems a bit crazy to me, will have to get allot of work done very quickly.

Yes, I think this is normal. We just had our mortgage offer through this week and dh had to supply his 20/21 accounts. I think the ones we originally submitted were provisional in some way (it's dh's business, I just sent them off), but they had to come back and ask us to ask our accountant to unload her version to Companies House, so they could check that what was submitted to them matched what was posted to Companies House. I think especially with COVID, they want to make sure you've been doing well this past year.

Yes, normal. I had to do projected accounts as well!

Thanks. Will have to get working then.

I told my accountant I needed them for mortgage purposes ASAP and they did them so could get my SA302. You have a full year of trading, especially through Covid that the bank will want to see.