Getting Mortgage - 1 Salaried Job, 1 Freelance Worker

aca891

Hi everyone,

My wife and I want to buy a house in summer and will need a mortgage to do so. She will start a new job in a salaried position, and I will be working freelance.

Now, I have already researched self-employment mortgages and self-certified mortgages, but could we get a mortgage using a combination of her and my income, even though I'm freelance? Or would we have to go self-cert if we want to count my income too?

For information, we have a huge deposit from savings - around 40% of the house-price we're interested in - would this help our case and sway lenders in our favour?

Any thoughts appreciated!

A

_Andy_

Hi

Couple of things to query - 1) Is her new job going to involve any probation period or will it be a perm contract straight away and 2) When you say you 'will be' working freelance, does that mean you will be starting freelancing then or are you already? If the latter, how long have you been freelancing for?

Spangled

You don't necessarily have to go down the self-cert route if one or both of you are self-employed. Both my wife and I are self-employed (with income from a combination of self-employed, company dividends and PAYE) yet were able to get a "normal" mortgage with HSBC no problem. However, we both had (more than) three years' worth of accounts each.

A big deposit usually helps you secure a more favourable interest rate.

aca891

Hi,

thanks for the replies.

Andy, basically we're moving back to England after a time in Germany, so I'll effectively be starting new as freelance (even though it's in the same field of work) - my job here in Germany is salaried. So I won't have the 3 years of accounts. But, I already have 3 good contracts lined up for next year, so presumably I could use them when applying? Or could I even use my german conctracts/bank statements as evidence of income?

My wife will start as a high-school teacher, so perm contract straight away.

Thanks,

A