Criteria guide

Sole traders / partnerships

The business must:

  • Be registered in the UK,
  • Have been trading for at least 2 years, and
  • Provide tax calculations dated within 18 months of application

We will take the latest net profit for the affordability assessment where the income is deemed to be sustainable.

Where there have been large increases or decreases in the year-on-year profit or income, please provide us with full details. We may ask for additional documents to ensure income used is sustainable.

Evidence requirements:

  • Last 2 years’ SA302s and corresponding TYOs to match the declared income
  • Last 3 months’ bank statements (business or personal as appropriate) showing income and consistent trading as per their declared income
  • If not used for trading, the latest month's personal bank statement showing expenditure