newly self-employed - mortgage options?

rbooky

What are the current options for the self-employed now that self-cert will no longer exist? Husband currently employed but will soon be self-employed, so will not have any accounts to prove income etc. Are most lenders still wanting 2 or 3 years accounts? Keep thinking it might be better to buy a house now while still employed, even though I believe prices have some way to fall next year.

Any advice much appreciated!

dimbo61

Are you in a position to buy ?
It might well be a very good time as all lenders have to ensure you are not borrowing too much and husband will need 3 years of accounts as no self cert mortgages.
Where are you living now ?
Paying rent ?
Your call

rbooky

Yes we are in a position to buy. Sold house a year ago, currently renting

koexelek

If you are going to do it, do it now, while he's employed.

Lenders treat newly self employed people as unemployed these days :eek:

pawpurrs

Really? DH has just gone self employed, so we are !!!!!!ed then, we want to buy up to 250k and will have approx 150k deposit, will no onelend to us?:eek: