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mortgage application advice please
carriee2652
Posts: 1 Newbie
Hi all. Was just looking for some advice.
Myself and my partner are first time buyers and we are hoping to buy a 40% share in a property and pay rent on the remaining 60%. I am employed part time and my partner is employed full time. My partner is also registered as a sole trader at our current home but does not received any income from this as all the money earned goes back into the business. We will need to use our new address as the business address as well.
Do we need to tell our financial adviser about the sole trading even though we received no income from it?? Will it affect our application??
Any help and advice is greatly appreciated.
Thanks
Myself and my partner are first time buyers and we are hoping to buy a 40% share in a property and pay rent on the remaining 60%. I am employed part time and my partner is employed full time. My partner is also registered as a sole trader at our current home but does not received any income from this as all the money earned goes back into the business. We will need to use our new address as the business address as well.
Do we need to tell our financial adviser about the sole trading even though we received no income from it?? Will it affect our application??
Any help and advice is greatly appreciated.
Thanks
0
Comments
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You should declare your partners business, although it sounds like it will not help financially, another issue could be the type of business, would you be permitted to trade from home?I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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