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Are you a sole trader and want to apply for a mortgage?
Lenders will want to see your profit and loss accounts to determine the amount of profit you have made. Some lenders will look at an average profit over two or three years, others will be happy to use the most recent set of accounts.
You may also be asked about contracts you have in the pipeline and what your forecast profits are.
If you submit self-assessment accounts to HMRC, you will receive a form SA302, showing the total income received and the tax due and this should be produced together with the required sets of accounts which should ideally be prepared by your accountant.
Are you worried about needing to provide evidence of your earnings?
At Prosper Home Loans we have a vast amount of experience with mortgage applications for all types of self-employed people. Not only that, as whole of market mortgage brokers, we also have access to some private banks who may be more flexible about how they assess your income, by including other assets you may have, for example.
Call us today for a preliminary chat and free advice.
The service you provided me was outstanding, without your help I do not think I would have been able to buy this house I went to many mortgage brokers who gave me false hope and wasted my time. Your service provided me with quick response up to date information and you was never too busy to answer my call. I would like to thank you for all your help without this service it would have been impossible for me to be were I am once again. Thank you and your team and I would highly recommend you to everyone.
Mr J Affleck Irvine Scotland