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Home>Glossary>Self-employed income

Self-employed income

Credit scores & reports
Earnings from running your own business or working as a sole trader.

Overview

Lenders usually require tax returns or accounts.

Income is often averaged over multiple years.

Why it matters

  • It affects mortgage and loan eligibility.
  • It can limit borrowing if income is inconsistent.
  • It requires more documentation.

FAQs

How many years of accounts are needed?

Often 2 to 3 years, depending on the lender.

Do lenders use net profit or turnover?

Most use net profit, though rules vary.

Related terms

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