Self Employed: Declining Profits
Our standard acceptability
Acceptable
Criteria definition:
Indicates if we can potentially accept a self-employed applicants income where the profits have declined year on year.
Policy Notes:
Applications from self-employed applicants with declining profits will be considered on a case-by-case basis and are not normally accepted where the decline raises concerns over the sustainability of income. We will assess the trading position, the reason for the reduction, and the outlook for the business before confirming the income figure we are prepared to use. All cases must satisfy our affordability and underwriting requirements, and we reserve the right to decline any application where income is not considered sustainable.
Criteria categories:
- employment
- self employed applicants
Last updated:
29 August 2018
