Bought a business, can I use their books to get a mortgage?

TheCleaningGuy

In April 2019 I went from unemployed to owning an established successful business.
I bought the business and registered as self employed.. 
Now I want to get a mortgage and am wondering if I can use their books from the past 15 years prove eligibility and affordability?
If not, I assume it's the "wait till you have got 3 years books behind you" route.

Thanks in advance ☺️👍🏼

Whats_your_forte

Nope! Sorry. How they ran the business might be completely different to how you plan to do it. Historic trading would be used for commercial finance but not a residential mortgage. Only cases we tend to see like this is if you joint a partnership (Doctor's practice) and in effect take over from a leaving partner ie the income will be that of the leaving partner.

As for books, you can do this with one year's book and a projection so no need for your '3 years'

TheCleaningGuy

Whats_your_forte said:

Nope! Sorry. How they ran the business might be completely different to how you plan to do it. Historic trading would be used for commercial finance but not a residential mortgage. Only cases we tend to see like this is if you joint a partnership (Doctor's practice) and in effect take over from a leaving partner ie the income will be that of the leaving partner.

As for books, you can do this with one year's book and a projection so no need for your '3 years'

Thank you so much for your prompt reply! 

Very informative! 
"One years book and projection" is fantasticfanta to me!

Thanks again!