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Self Employed

   

 

Did you know one of our bespoke lender can assist with clients who are self employed with the following scenarios….

 

✓ One full year’s SA302s and TYOs considered – on these cases;

  • Maximum LTV of 90%
  • Ideally clients with employed history in the industry prior to going self employed ( if not, will consider if they have guaranteed income in the current financial year)
  • We may request 3 months personal and business bank statements for these clients
  • For Limited Company Directors and 1 years accounts, use salary and dividends

 

✓ Using Latest years figures

  • Maximum 95% LTV on Level 1, 90% Level 2, and 80 % for Level 3
  • Wherever possible we will use latest years figures (if there has been significant increases, we will likely need additional supporting info such as Accountants reference to confirm sustainability)
  • If the previous year was lower, tell us. If the figure 2 years ago was the start-up year for example, add details in the notes section for the underwriter to understand

 

✓ Limited Company Directors with 2 + years  accounts

  • Subject to the applicant owning 25% + shares in the company, Aldermore can consider salary plus share of NET profit after taxation
  • Maximum 95% LTV on Level 1, 90% Level 2, and 80 % for Level 3

 

 

….and don’t forget…..

 

  • Capital raising for business purposes allowed up to 85%
  • Debt in personal name but paid via the business can be excluded (likely pending an accountants reference to verify
  • Sole trader to Ltd Co with same structure but not in receipt of Ltd Co accounts can be considered 

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