Advice needed getting a mortgage?

_Andy_

Having said that, wouldn't they be quite limited in terms of lender due to minimum income requirements?

happybroker

that was my thinking. If Mr shows what ever his accounts/ self assessment returns do show in support, assuming he has them, it may help.

NPowerUser

Thanks for all your help folks.

I am going to attempt to get a mortgae from the Coventry based on just my wifes income, as trying to prove mine are complicated. I do not have any accounts as I complete my own Income Tax Return under self assessment, which although I could provide that as a statement of my earnings, a lender could argue that those figures are plucked out the air.

As some have argued, they might be able to lend us £25K as the loan to value is pretty fair and to be honest we could borrow more if I went down the certified accounts route but do we really want an unecessary bigger debt through to our late to mid 50's.

I will let you know what they are prepared to offer us in the next few days as someone out there might be bale to better it or suggest an IFA.

herbiesjp

_Andy_ wrote: »

Having said that, wouldn't they be quite limited in terms of lender due to minimum income requirements?

Or minimum income requirements

Self assessments are ok to use as well to verify income as long as you then have the SA302 (i think that is the right form)

Any extra income that you can verify will make this all the more easier, and make the best rates available to you

koexelek

NPowerUser wrote: »

Thanks for all your help folks.

I am going to attempt to get a mortgae from the Coventry based on just my wifes income, as trying to prove mine are complicated. I do not have any accounts as I complete my own Income Tax Return under self assessment, which although I could provide that as a statement of my earnings, a lender could argue that those figures are plucked out the air.

As some have argued, they might be able to lend us £25K as the loan to value is pretty fair and to be honest we could borrow more if I went down the certified accounts route but do we really want an unecessary bigger debt through to our late to mid 50's.

I will let you know what they are prepared to offer us in the next few days as someone out there might be bale to better it or suggest an IFA.

Coventry should be able to do 3.6 times your wife's income, which is just about enough, as long as she has no other loans or credit commitments.
Obviously, you'll still want to be on the mortgage. They just won't use your income.

Good luck with it

NPowerUser

Coventry not willing to play ball.

They were prepared to offer a self cert mortgage if I have been S/E for at least 4 years with accounts.

Shame really as I would have thought my wifes income and as we were only looking to borrow 20% of the new homes value it would be plain sailing.

Hoh hum, back to the drawing board.

herbiesjp

HOw long have you been self employed?

This should not really be a difficult scenario to get agreed for you