There isn’t one calculation used by every lender. How much you may be able to borrow can depend on your income, trading history, business structure, commitments and the lender’s own affordability assessment.

The important part is establishing which income figures a lender may be prepared to use. Two lenders looking at the same self-employed applicant can assess the case differently, which is why I look at how you earn before looking at borrowing figures.

You don’t necessarily need three years of accounts. Many lenders will consider self-employed applicants with two years’ trading history, while some may consider a shorter period where the circumstances and evidence support the application.

Rather than assuming you need to wait, I’ll look at how long you’ve been trading, what you did beforehand, your recent performance and the figures currently available before considering which lenders may fit.

Potentially, yes. Having only one year’s accounts doesn’t automatically prevent you from getting a mortgage, although your choice of lenders may be more limited.

A lender may want to understand your previous experience, how the business has performed and whether the available figures support the income being used. I’ll assess the whole trading picture, rather than simply treating the age of the business as the answer.

This is where lender criteria can make a significant difference. Depending on the lender and your circumstances, the assessment may consider salary and dividends, while other approaches may take account of the wider performance of the company.

Your shareholding, trading history and how you choose to take money from the business can all be relevant. I’ll look beyond the payslip to understand the company behind your personal income before considering suitable lenders.

Possibly. A strong latest year can be useful, but lenders don't all treat increasing income in the same way. Some may average income over a period, while others may place greater emphasis on the most recent figures, depending on their criteria and the circumstances.

I’ll look at what has driven the increase, whether it appears sustainable and what evidence is available, then consider which lenders' approaches may be most appropriate.

Potentially. Being self-employed and having adverse credit doesn’t automatically mean a mortgage is unavailable. The detail matters.

I’ll look at what happened, when it happened, the amounts involved, whether the issues have been resolved and your position now, alongside how your self-employed income can be evidenced. Different lenders have different appetites for adverse credit, so both sides of the case need to be considered together.

It’s worth reviewing your position before your existing deal ends, rather than waiting until the last minute. Depending on the lender and product, remortgage options may be available in advance, I advise it is worth doing this 6 months before.

Starting early also gives us time to consider your latest accounts, expected business performance and when new figures will become available. For a self-employed borrower, when you review can sometimes be just as important as what you review.