BM Solutions has clarified its new stance on self-employed applicants and the use of AS302s.
When the lender requests evidence of self employment, it can only accept SA302s for the financial year of 2013 – 2014, showing the customer’s latest figures.
This came into effect on Monday 6th October.
If the borrower doesn’t have this or if accountants haven’t submitted these to HMRC yet, BM Solutions will not be able to proceed with the application, as it’s unable to accept an SA302 over 18 months old as the latest year.
This includes SA302s covering the period of 2012 – 2013.
