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‘Welcoming back self-employed borrowers will not be as smooth as we like’ – Star Letter 16/04/2021

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  • 16/04/2021
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‘Welcoming back self-employed borrowers will not be as smooth as we like’ – Star Letter 16/04/2021
Each week Mortgage Solutions and its sister title Specialist Lending Solutions pick the top comment from our readers.

 

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 shouldnhave your cake and eat it but hundreds of people and businesses have over this periodI’m not sure the welcoming back of the self-employed with open arms will be quite as smooth as we would like. 

 

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