First time mortgage even possible?

spidereyes

Me and my partner are looking at getting our first mortgage but based on our situation I dont know if we'd be able to?

On the surface based on banks calculators we could potentially borrow more than we need based on our joint income, BUT my partner is self employed, and only has been for the past 5 months. He was in full time employment in the industry before this.
Ive heard that most lenders will only consider self employed if they have 2 year account history, so Im assuming a standard mortgage may already be a straight no?

Taking my sole income into account then I would only be able to get a 50%-60% mortgage which just isn't enough.
We have around a 10% deposit at present.

Other than that;

1. No real debts other than student loans, I have an interest free overdraft but I can repay this any time from my savings.

2. Credit history for me is good, 1 credit card for day to day expenses paid in full every month.
Partner doesn't have any credit as he's never needed it. Bills have always been in my name as I deal with finances.

3. We've moved around a bit over the past 4 years, from being students etc and then just generally unlucky with rented properties but we have always been on the electoral roll.

Ive heard of guarantor mortgages and the likes but thats a big ask of my partners parents who would inevitably be the ones backing it ....Is there likely to be any chance of us getting any kind of mortgage within the next 6 months or so, or is my partners self-employment a nail in that coffin straight-off?

opinions4u

..Is there likely to be any chance of us getting any kind of mortgage within the next 6 months or so,

No.

or is my partners self-employment a nail in that coffin straight-off?

Yes.

Get two full trading years of accounts together and use that time to keep building up a deposit. Aim for 25% plus.