self-employed -how to find out who will lend me money without ruining credit score??

evosy1978

Hello

Basically im self employed and i know this will be a problem when getting a mortgage. The thing is how can i find out which lenders will lend me money without applying for a mortgage only to be refused by one and thus making my credit score worse??

thanks

VIGILANT22

I dont know why you think it is a problem for self employed people obtaining mortgages?????........All lenders will lend to s/e...rates are the same for employed & self employed....otherwise we'd have a revolution!

Ah yr looking fo self cert.....no can do.....not anymore

maxmycardagain

a self-cert will be hard to find and have a higher deposit requirement and have a higher APR

for some reason lenders have gone all wobbly......lol

_Andy_

evosy1978 wrote: »

Hello

Basically im self employed and i know this will be a problem when getting a mortgage. The thing is how can i find out which lenders will lend me money without applying for a mortgage only to be refused by one and thus making my credit score worse??

thanks

No reason it should be a problem at all assuming you can prove your income.

evosy1978

oh thanks.

well i did think it was harder for s/e to obtain mortgages, dunno why..

I have all my tax returns in place from the last 5 years,. NO accountant, because i do them myself,... will these be sufficient as evidence to prove my income to a lender?

MortgagePerson

there are no s/c mortgages available

jennyo

MortgagePerson wrote: »

there are no s/c mortgages available

Do you mean that evosy's own accounts would not be acceptable that they would have to be prepared by an accountant.

VIGILANT22

jennyo wrote: »

Do you mean that evosy's own accounts would not be acceptable that they would have to be prepared by an accountant.

s/c = self cert

VIGILANT22

evosy1978 wrote: »

oh thanks.

well i did think it was harder for s/e to obtain mortgages, dunno why..

I have all my tax returns in place from the last 5 years,. NO accountant, because i do them myself,... will these be sufficient as evidence to prove my income to a lender?

In yr case they may contact hmrc for confirmation etc

NEH

VIGILANT22 wrote: »

I dont know why you think it is a problem for self employed people obtaining mortgages?????........All lenders will lend to s/e...rates are the same for employed & self employed....otherwise we'd have a revolution!

Ah yr looking fo self cert.....no can do.....not anymore

It is more difficult. I know when we enquired through financial advisors that it is more difficult if you are self employed. When they stopped doing self certification mortgages last year that mean't that you had to face a higher interest rate and we would have to come up with a 45% deposit or thereabouts...We can't dream of buying yet but when we do the 45% deposit will be hard to raise....

VIGILANT22

Not true about it being more difficult...This would be discrimination....Employed and self employed are treated the same, as long as you can prove income
True....no self cert....