Case Study: Client With One Year’s Accounts Releases Equity On Buy-To-Let In Order To Buy Next Home

The reason for this initial rejection was that our client had spent a number of years prior to his twelve-month tenancy travelling around the world for work. He had therefore not been liable to pay tax in any specific region during this period of time, because he had not settled anywhere, which meant that although he was able to show income through his business’s profits, his tax documents showed that he had earned nothing until he returned to the UK twelve months earlier. Most lenders – particularly high-street lenders – require two-years of accounts from self-employed borrowers, which was why our client was unable to acquire the mortgage he required.