Self Employed: Recent change in status (sole trader to limited company, etc)
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can consider the income from a self-employed applicant on a residential application where a change in self employed status has recently taken place. For example, where an applicant has been a sole trader for 8 years and has recently converted his business status to a Limited Company but has not been trading long enough as a Limited Company to have sufficient accounts. The applicant would need us to consider their income based upon their historic performance as a sole trader.
Policy Notes:
Family Building Society can potentially consider an application where a change in self employed status has recently taken place
Criteria categories:- employment
- self employed applicants
Last updated:
15 September 2020