How Heron Financial Arranged a Clydesdale Bank Product Transfer for a Self-Employed Scaffolder with Two Years of Trading Accounts

Heron Financial arranged a £195,000 product transfer with Clydesdale Bank for a Self-Employed Scaffolder running a Ltd company with two years of trading accounts. The mortgage sat at approximately 65% LTV against a current valuation of £300,000 on a purpose-built flat with an 80-year lease. The new product took effect in March 2025.

The client

The client was a Self-Employed Scaffolder running a limited company, buying solo. They had two years of trading accounts on the company, which sits at the minimum of what most mainstream lenders consider for self-employed income. They lived in a purpose-built flat originally bought for £260,000 and now valued at around £300,000, with an 80-year lease. With the existing fixed rate coming to an end, they came to Heron Financial for advice on the right next step rather than drift onto the lender’s standard variable rate.

The case at a glance

• Borrower: Solo applicant
• Occupation: Self-Employed Scaffolder (Ltd company director, 2 years trading)
• Property type: Purpose-built flat
• Lease: 80 years
• Original purchase price: £260,000
• Current valuation: £300,000
• Loan amount: £195,000
• LTV: Approximately 65% against current valuation
• Lender: Clydesdale Bank (existing lender)
• Action: Product transfer to a new fixed product
• New product start date: March 2025
• Repayment method: Capital and interest 

Why this case mattered

Three features shaped this case.

1. Two years of trading accounts. Most mainstream lenders want to see at least two or three years of self-employed trading history. Two years sits at the minimum end of the range, which means the lender shortlist is narrower than it would be for a borrower with five or six years of accounts. For a product transfer with the existing lender, the trading history isn’t being reassessed in the same way it would be on a remortgage to a new lender, which makes a PT often the cleaner route for borrowers at the lower end of trading-history requirements.
2. Self-employed Ltd company director income. Income from a Ltd company is typically drawn as a combination of salary and dividends, sometimes with retained profit considered by some lenders. The way each lender reads that picture varies, particularly with a shorter trading history. Specialist and mid-tier lenders often have more flexibility than the largest high-street names on shorter trading histories.
3. 80-year lease. Leases of over 80 years are usually well-treated by mortgage lenders, but at exactly 80 years the property sits at the boundary where lender appetite starts to vary. Some lenders are completely comfortable; others want longer. For a product transfer with the existing lender, the lender already holds the security and the lease length isn’t a fresh consideration. For a future remortgage, however, the lease may need to be extended to keep the widest lender market available. This is a forward-planning point worth flagging.

The strategic question for the Heron team was straightforward: did a    product transfer with Clydesdale produce the right outcome, or would a remortgage to a different lender produce a better one. With the trading history at two years, the practical lender market for a  remortgage was narrower than it would normally be, and a PT with Clydesdale was the right call.

How Heron Financial approached the recommendation

The Heron adviser reviewed the client’s current mortgage position with Clydesdale Bank, considered the lender market for both PT and remortgage routes given the two-year trading history, and weighed the trade-off between staying with the existing lender and attempting a remortgage with the income evidence available. With Clydesdale’s product range producing the right outcome and the PT route avoiding fresh underwriting on a relatively short trading history, a product transfer was recommended.

Heron Financial managed the PT process directly with Clydesdale Bank, securing the new product to take effect in March 2025.

The outcome

The new product took effect in March 2025. The client moved onto a new fixed rate without a gap, avoiding any drift onto Clydesdale’s standard variable rate.

What this means for buyers in a similar position

For self-employed borrowers with shorter trading histories, the option to product transfer with the existing lender is often the most straightforward route at product end. Some practical points worth knowing.

Two years is a workable minimum but narrows the lender market. Most mainstream lenders accept two years of accounts, but some prefer three. Specialist and mid-tier lenders can be more flexible.

Limited company income reads differently from sole trader income. Lenders typically use salary plus dividends drawn from the company. Some include retained profit. The right placement depends on how each lender reads the available accounts.

Remortgaging to a new lender means fresh underwriting. A PT with the existing lender doesn’t require the same level of fresh income assessment as a remortgage. For borrowers at the minimum trading-history end, this can be a meaningful advantage.

Lease length matters for the next move, not the next product. An 80-year lease works for a PT with the existing lender, but borrowers should consider whether to extend the lease before the next remortgage to keep the widest lender market available.

For trade businesses, scaffolders, plumbers, electricians, builders, where work is often limited company structured for tax efficiency, the same principles apply. The income evidence base is what it is, and the right placement matches the lender’s policy to the borrower’s actual income shape.