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Stuck in Interest Only Mortgage rutt
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Working for a mortgage company I know that they will look at your net profit earnings, usually require a minimum of 2 years trading figures + a projection and ideally your net profits would need to increase year on year. If they fluctuate they'll take an average and if the decrease then it's usually a no go. Some lenders will insist on seeing your SA302 (Online tax computation)
Some lenders will take rental income into account but will only utilise if can provide 3 years evidence and is being declared to HMRC
With regards to the CCJ firstly is it satisfied?? If so that is a start what is the amount and is it in isolation or does he have other adverse credit? If the CCJ is less than £500 was satisfied within 12 months of registration etc, some lenders were lenient however... todays current climate and all that means the criteria is a lot harsher.
Still could be worth enquiring. Some lenders might let him apply 2/3 years after the CCJ was satisfied0
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