Do retainers count towards mortgage application?

pogster1000

My wife has been self employed for about 8 months. She has a couple of retainers with 2 different companies that total £1400 per month.

Could this count towards a mortgage application? In my eyes, she is in employment and receiving a 'wage'. However, the bank may not see it that way?

Thanks in advance for any advice

TrickyDicky101

When you say retainers, is she on PAYE with these companies (I presume not hence you desacribing her as self-employed)? If not then the retainers will count towards her net profit for the year and thus would be counted by the mortgage providers. However, I understand providers like to see consistent sets of accounts of 3 years or more, so 8 months doesn't really cut it. Unless you have significant earnings, I suspect you will have difficulty sourcing a mortgage. It's for situations like this that mortgage advisors can come into their own.