Self Cert Mortgage or there like

chunky573

Hi All wondering if any one can help me on this.

I am recently divorced living in rented accommodation, I have retrained to become a swimming teacher and lifeguard. I am earning enough money to pay my rent and also all my bills yet a my bank won't touch me with a barge pole for a mortgage! They tell me that due to having no contract with the councils ( 2 of them ) that I work for i can't prove my income, yet my wages are paid into there account every week and month!

Is there anywhere out there that I can get a mortgage from?

I just see paying rent as a dead loss and have got money set aside to pay the deposit.

opinions4u

You are casually employed. So as such, they are quite wise not to lend money to you.

One so called expert recently predicted a 5% fall in house prices over the next 12 months. Paying interest and suffering a capital depreciation is "deader" than just paying rent.

Wait until you have a contract of employment. Then you are in with a shout.

They tell me that due to having no contract with the councils ( 2 of them ) that I work for i can't prove my income

Their terminology is wrong. Your income can be verified. Your employment status simply doesn't meet their lending criteria. The same would apply to all lenders that I know of.

tkitmike

Hi there,

So your self employed? - Or are you on PAYE with the local council?

If your self employed, I presume your registered with HMRC and have annual accounts?

How long have you been self employed - If you have been self employed with good accounts for 2 years, there are quite a few lenders available to help.

chunky573

I'm PAYE with both councils, one of which I have all my tax relief with and the other I pay basic rate. I have thought about going Self Employed but not sure whether to do it or not, i travel between the 2 jobs some days so though going S/E would enable me to claim for petrol and stuff but not really sure.

TrickyDicky

You dont mention what your income is, the value of the house you want to buy and how much deposit you have saved. Just because you can afford to pay rent means you can afford to pay a mortgage.

tkitmike

If your on PAYE - then you most likely have 3 months pay slips?

Therefore most lenders would give you a mortgage.

Being self employed has its benefits, with being able to claim all expenses back, however, you will then need a minimum of 2 years accounts to get a mortgage. Sadly that's the position I'm in.

luckyfool

tkitmike wrote: »

If your on PAYE - then you most likely have 3 months pay slips?

Therefore most lenders would give you a mortgage.

Being self employed has its benefits, with being able to claim all expenses back, however, you will then need a minimum of 2 years accounts to get a mortgage. Sadly that's the position I'm in.

No, most lenders will ask your employment status as part of the application process. e.g. Permanent, Contract, Temporary etc. As the OP is casual staff with no guaranteed hours or permanent contract most mortgage lenders are extremely unlikely to consider offering a mortgage utilising their income. Certainly not without a very long track record with the employer with consistent income which does not appear to be available.