Both self employed will it be harder to get a mortgage?

Little_Chicken

chalkie99 wrote: »

If he has a Ltd company then presumably he is an employee of that company and not self employed.

I've just asked - he is an 'employee' that's right, but I'm sure the last mortgage we got he had to say he was self employed. Don't know why.

I'm going to give our current provider a call on Tuesday to see what they have to offer. Thanks for your input guys.:beer:

Ian_Griffiths_Halifax

Little_Chicken wrote: »

I've just asked - he is an 'employee' that's right, but I'm sure the last mortgage we got he had to say he was self employed. Don't know why.

I'm going to give our current provider a call on Tuesday to see what they have to offer. Thanks for your input guys.:beer:

So I'd assume he has a 25% Shareholding or more. That makes sense as he's a controlling director.

Little_Chicken

Hi all, I just wanted to let you know we've been provisionally approved a tracker mortgage with the Woolwich. We should get the forms tomorrow. We've added extra to convert our loft, and our repayments have halved as we've changed from a repayment to an interest only.

We'll change back in a few years when we're otherwise debt free :0)

Ian_Griffiths_Halifax

Little_Chicken wrote: »

Hi all, I just wanted to let you know we've been provisionally approved a tracker mortgage with the Woolwich. We should get the forms tomorrow. We've added extra to convert our loft, and our repayments have halved as we've changed from a repayment to an interest only.

We'll change back in a few years when we're otherwise debt free :0)

Reconsider taking the Tracker and think about another Fixed Rate. If you are going to take time off this year, you really should try and guarantee what your payments will be so that you don't get nasty surprises if the rates go up and the income goes down.

Little_Chicken

Thanks Ian - I did say this to my OH, but we still have a good income, so rates would have to change a lot before we's struggle - so he says anyway! lol