Lots of businesses will change their trading style at one stage or another. For example, it is common for a sole trader to incorporate their business as a limited company, as the trade starts to build and grow.
If you have recently incorporated and have not yet finished your first year of trading under your new structure, you might find it very difficult to secure a mortgage from a high street lender.
Most providers will not consider the history of the business, and will therefore demand two to three years of accounts before they will consider lending. This applies to most types of business and mortgage, because, as a director, they will need to know your income and the stability of the company to calculate affordability.
This same frustrating scenario can apply to directors who have been running the same business for a decade and have recently decided to change their trading style.
In this sort of scenario, the best solution is to contact Revolution Brokers. We work with a vast network of expert lenders and can negotiate the income calculation basis to ensure that the complete picture is taken into consideration.