Stick with it or start again? (Rather long - sorry!)

kneame

Hi. I hope someone can help me. My boyfriend and I are buying our first house and have been going through the mortgage application for the last 6 weeks. Something has just come up which has thrown us and we're unsure what we should be considering next.

Basically about a week or two ago, our prospective mortgage lenders (Chelsea Building Society) asked for a shareholders statement for my boyfriend as he is employed by his own company. Legally he is not self employed as the company he has a share in pays him via payroll and PAYE and the mortgage application was put in on this basis. His accountant has confirmed this is the case. Anyway, now, 6 weeks after our initial application, our mortgage lenders have decided that regardless of this they are going to treat him as self employed anyway and want 2 years accounts. Fine, except he doesn't have last years accounts made up yet so that'll add another 2 weeks delay. Just hope they give us a mortgage offer after this, and that our sellers don't mind the extra delay.
Anyway - are we better off getting the accounts done, adding a couple of weeks delay and then hoping that nothing comes up in the valuation survey and they offer us a mortgage for the amount we want., or are we better off starting again? How long does it take to self certify as we had been considering that as a backup if the self employment thing came up? We don't know what to do next and there's no chain so we're worried if we start again the seller might drop us and put the house back on the market. If it makes any difference, the lenders we can go to have been limited by a default I had 2 years ago which, although I paid it off immediately, has knocked out quite a few lenders. Both of us have checked our credit reports and our ratings are excellent (despite my default).

Thanks for any replies!