This week’s comment was in response to the story: Changing tax year means lenders can no longer put off self-employed borrowers – JLM.
Sox said: “It will surely be sensible for all lenders to still request the last three business bank statements, and I will certainly still be asking my clients for them.
“I’ve heard recently of a case that declined because the client took out a government grant as advised by his accountant; despite the fact his business was doing okay for the last three months.”
Sox added: “The reasoning behind this was when you apply for the grant, you have to declare that you are still suffering financial difficulties – which he technically was not.
“You shouldn’t ‘have your cake and eat it’ but hundreds of people and businesses have over this period. I’m not sure the welcoming back of the self-employed with open arms will be quite as smooth as we would like.”