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3 yrs self employment versus 2 years
lethal0r
Posts: 408 Forumite
is there a big difference in mortgages available if you have 3 years self employed history compared to just 2 years?
First year I was self-employed, then started a ltd company of which I am director & sole shareholder. Im the only employee which I believe still counts as self-employed to lenders?
My accounts are done by a chartered accountant & I would be looking at about 60% LTV.
First year I was self-employed, then started a ltd company of which I am director & sole shareholder. Im the only employee which I believe still counts as self-employed to lenders?
My accounts are done by a chartered accountant & I would be looking at about 60% LTV.
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Comments
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all lenders are different, some want to see 3 yrs but take the figure from the latest year, some will take averages over 1-3 years.speak to a broker.0
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Some lenders will insist on three years, but there are quite a few who will look at two years, particularly at such good loan to value.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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SOme will take two years with an accountants projection for year 3.
The more accounts you have showing a verifiable income, the more options that you will have available.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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