Remortgaging for the self-employed

"If there is a recession, the self-employed are usually the worst hit, so this is probably why some lenders may be taking a more cautious view." 

Other options

For advisers whose clients are consistently seeing high rates and set up fees, there is the possibility of looking at a second charge mortgage, or taking out a personal loan.

However, with these options, clients have to go through all the underwriting requirements again and this can take time to process - time which some business owners do not have, as they could miss out on the acquisition opportunity, for example.

Simoney Kyriakou is content plus editor for FTAdviser