Self-employed(ish) and in need of mortgage advice!

southeastsuburbs

My boyfriend and I have just had an offer accepted on our first house and it's time to do what I've been putting off and apply for the much-needed mortgage. I've done lots of research and found the best product for us, my problem is with the application itself and the fear of being rejected.

My boyfriend is a teacher and the 'secure' one in the relationship (financially at least). I'm a bit more complicated as I'm an actress by trade- but don't earn much money from this, or not regularly anyway. When not acting (which is most of the time), I work in a call-centre which employs lots of other out-of work actors. This provides me with a regular income but none of the benefits of regular employment (sick leave, holiday pay etc). To the tax man I am self-employed as I need to complete self-assessments each year, but I've only been out of drama school two and a half years so therefore I don't have three years of accounts which I hear are needed for mortgage applications for the self-employed.

So I don't want to mention the acting part when it comes to applying for a mortgage. As my main income comes from the call-centre and I've got the wage slips and the P60's to prove it, can I just be considered as employed?

Although the call-centre income is less than what I've actually earnt over the last few years, combined with my boyfriends salary it should still give us the mortgage that we need, so I don't feel I'm doing anything wrong.

Am I right??

herbiesjp

You don't give any figures, so it is difficult to see if the scenario will work for you. Not all lenders need 3 years accounts, so you could still find a lender to help, based on 2 years accounts.

Conrad

You can be 'just' employed and have the right not to mention the self employed side unless you want to.

nzmegs

The more income the better surely...if they decide not to accept the self employed income due to a lack of accounts, you haven't lost anything by trying. If they do accept it you will get more money offered and more chance of getting the mortgage.

I would describe yourself as employed with an "other" income. Most mortgage applications will have room for other types of income such as bonuses or rental income.