Mr M had been employed in the IT industry for many years and working as a self-employed contractor for 18 months. As a new business, while his daily rate of pay was high, his net profit for his first year of business was modest.
Solution
We were able to find a high street lender who was happy to lend on the contract value, rather than his self-employed income, meaning that his borrowing capacity was three times higher than it might otherwise have been.
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