Applying for credit cards or loans?

[MugsLife]

Does anyone have experience of applying for credit cards or loans whilst self-employed. Both my husband and I are self employed, but we want to get some finance for home improvements, we don't currently have any debts apart from the mortgage. The applications forms all seem to ask for annual salary and monthly salary from employment - is it ok to put an average monthly income from self-employment? and will they ask for proof?

It's best to call the loan company and ask or look online at money related sites (like MSE) and search the forums. Usually at least one person on those sites will have been in a similar situation and come back to report on their experience.

Personally, I'd average out my self employed income to a monthly amount based on previous years earnings. If they ask for proof, it would depend on your set up. I'm a self employed individual and my 'proof' would be messy as I don't have a business account. That request would send a shiver down my spine even though I'm not doing anything wrong, so if it's the same type of situation, I see where you're coming from and sympathise.