Self Employed SA302's

Mikeef

We are looking to re-mortgage later this year to get off the 7.44% APR deal we are on now. We fixed it at the wrong time, just before intrest rates dropped!

Anyway, My wife will be working part time by the time we re-mortgage as she will just have come off maternity leave so her salary will be quite small.

I am employed and also self-employed. When it comes to proving your self-employed income I understand you can use SA302's from HMRC. Not a problem. Does the lender ask for 3 years worth and if so do they take an average over the 3 years and then add this to the PAYE...

e.g.

year 1 - profit = £1000
year 2 - profit = £2000
year 3 - profit = £3000

Average = £2000

plus PAYE salary, say £20000, so the mortgage would be calculated on £22000?

Thanks Mike

Let_Us_See

Basically, yes. Less any other existing financial commitments.