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Santander to require tax year overview for self-employed clients

Hannah Uttley
Written By:
Posted:
June 11, 2015
Updated:
June 11, 2015

Self-employed mortgage applicants providing tax calculations (SA302s) as evidence of income to Santander will be required to provide a tax year overview.

From Monday 15 June, all brokers submitting for self-employed mortgage applicants for loans under 90% loan to value will need to submit a tax year overview for the corresponding tax years or an accountant’s certificate to support their application.

Santander allows both paper and online versions of tax calculations, and applicants will be able to submit tax year overviews as a paper or online document.

All self-employed full mortgage applications submitted through Santander’s Introducer Internet by close of business on 14 June will not be affected by the change.

A spokesperson at Santander said the changes were being introduced to ensure it met standards being introduced across the industry.

“Following guidance from the Financial Conduct Authority, the Council of Mortgage Lenders and Her Majesty’s Revenue and Customs, we are making changes to our income evidence requirements.

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“From 15 June of this year, self-employed applicants who provide Tax Calculations as evidence of income will also need to provide Tax Year Overviews for the corresponding tax years to support their application. We will continue to accept Accountants’ Certificates from registered professionals and full business accounts.”

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