Please note that self employed applicants must be self-employed for at least 12 months before beginning the referencing process. If they have been self employed for less than 12 months then this income would not be able to be taken into account.
What Documents Are Needed to Reference A Self Employed Applicant?
When referencing a self employed applicant, providing the appropriate documentation is important. We require 6 months personal bank statements, or a tax return, to prove income and financial stability. Alternatively, if the applicant has an accountant, we can use an accountants reference as well.
What Information Is Included in a Bank Statement?
A bank statement is a document that a bank account holder will receive from their financial institution. It provides a detailed summary of the activity in the account, including deposits, withdrawals, and any fees that are applied.
What Information Is Included in a Tax Return?
A tax return is a form that individuals and businesses can submit to their governing bodies in order to report their income and possible deductions. It is important to provide if you are self employed and need to prove your income for referencing.
What Information Is Included in an Accountants Reference?
An Accountants Reference is a statement from a professionally registered accountant that can be used to verify income and financial stability. The statement should include details about the financial stability of the applicant and any potential deductions.
Why Is Referencing a Self Employed Applicant Necessary?
Making sure that all applicants are able to prove their income is an important part of our verification process. It ensures that our applicants are capable of maintaining their financial commitments.