How we helped a newly self-employed client (only 7 months trading) purchase a $2.5m home

A self-employed client approached us, to purchase a $2.5m home.

Challenges Faced

Client had started a new business only 12 months ago and presented 2021 Financials with effectively only 7 months of trading performance.  Most Lenders require 2 years’ history.

Outcome

We were successfully able to build a case using 2021 Financials (9 months) and YTD management accounts (5 months) to convince the Lender that the client’s business would be very profitable and therefore the deal should be approved.  Part of the reason for supporting the case was due to the client’s previous employment history in the same field of expertise prior to starting his own business.

The deal was approved and the client purchased a nice home for $2.5m