Exploring the complexities of an evolving Self-Employed market

Our March coffee morning will be focused upon the Self-employed market, and for this session, our usual host Sophie Holloman, will be joined by Jonathan Mann, Corporate Account Manager at One Savings Bank Group. The self-employed market is constantly evolving and with it the need for lenders to adapt, especially when it comes to how they assess their incomes which are often in complex structures. Self-employed customers are struggling more than ever to secure the mortgage or loan they need with mainstream lenders, due to trading periods of less than 2-3 years or their unpredictable and varied income structures. It’s important that lenders understand the difficulties self-employed customers face and can take a more pragmatic and flexible approach when underwriting their cases. As an adviser, it’s equally important to understand how lenders operate in this space so you can fully support your self-employed customers. This session will look at: • Identifying affordability boosters • Why understanding financial and trading year ends can make the difference • A lender’s interpretation on accounts and tax calculations/tax year overviews • Share Net Profit, Returned Profit Adverse Projections • Complex incomes; Day rate contractors/IR35, CIS workers