Help - Self employed with no accounts, NEED mortgage

alabama_2

Hi,

My partner is self-employed under the construction industry scheme, meaning he is taxed at source. He works permanently for a company and is paid weekly by an intermediary company straight into his bank account and has payslips.

He has only been doing this for 9 months, previously he was employed on PAYE. For this reason he doesn't have accounts, which we need to get a mortgage.

We have had an offer accepted, and I'm not too happy with the way our broker is dealing with things. Can anyone advise me who we can go to for a mortgage because we need 95% and it seems all self-certs are max 90%.

Thanks,

AndrewSmith

What has your current broker suggested? He is privvy to all your information and the full case facts hence his recommendations will reflect this.

What is it about your current broker's recommendation you are not happy with?

alabama_2

To say he is 'employed' by his current employer.

Strangled

Take his last 3 tax figures with you. I recieve a letter every year telling me the IR have accepted my figures etc, with a rundown of of total income for the year and tax paid.

alabama_2

He doesn't have any tax figures, not for this FY, he has p60s for the last 2 financial years as he was employed in a completely different industry.

MortgageMamma

IS your broker trying to put this through as employed or self employed? Some lenders will allow workers in the construction industry to be classed as employed if they can produce the vouchers

alabama_2

Employed.

Can you tell me which lenders will do this? He has all his CIS vouchers and has now started to get payslips.

Our broker is useless doesn't return our calls and tried to say that he should use his previous employment details down as he was PAYE, instead of giving the correct information. He would be able to do this as his dad owns the company and would give him payslips to say he still works there. Dodgy as hell.

As an aside, Intelligent Finance seem to differentiate between self-employed and contractors and require contracts for last 6 months. He hasn't got any contracts, but what would these contracts need to contain?

MortgageMamma

Hi There

Steer well clear of your current broker they are obviously dodgy as hell! putting false or misleading information on a mortgage application is fraud, not only can it cost you money you can do time for it - as can your broker, you might want to give him a reminder of that fact by reporting his suggestions to his compliance officer, you will find those details on the back of any key facts documents he has given you

Your situation is clearly not straightforward so in this instance I would recommend you use the services of an honest and experienced professional - there are plenty of companies who would look at this but due to the complexities of your requirements it would be negligent of me to tell you the lenders names - you need advice

hokkers999

MortgageMamma wrote: »

Hi There

Steer well clear of your current broker they are obviously dodgy as hell! putting false or misleading information on a mortgage application is fraud, not only can it cost you money you can do time for it - as can your broker, you might want to give him a reminder of that fact by reporting his suggestions to his compliance officer, you will find those details on the back of any key facts documents he has given you

Your situation is clearly not straightforward so in this instance I would recommend you use the services of an honest and experienced professional - there are plenty of companies who would look at this but due to the complexities of your requirements it would be negligent of me to tell you the lenders names - you need advice

You are ignoring the fact that if you work permanently for one company, with payslips even! S/E don't get those... then HMRC will almost certainly regard you as "employed", remember all of the fuss with the IT industry?

Perhaps the broker checked with the revenue first?

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MortgageMamma

I am not ignoring any facts nor am I assuming any. I'm simply advising the forum user to seek the advice of an HONEST professional. Absolutely nothing wrong with that. What is wrong is that the broker is suggesting the OP's partner should use their previous employment details, which, however you dress it up is fraudulent.

AndrewSmith

hokkers999 wrote: »

You are ignoring the fact that if you work permanently for one company, with payslips even! S/E don't get those...

Not strictly true I'm afraid. Under the construction industry it is quite normal for a self employed sub contracter to work permanently on a schedule D basis and receive payslips with tax deducted at source.