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Brokers - who wants a gig??
Options
Tino06
Posts: 16 Forumite
Attention folks,
Can any broker here facilitate a 95% mortgage for someone who is fairly newly self employed??
Can any broker here facilitate a 95% mortgage for someone who is fairly newly self employed??
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Comments
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depends how newly in realityI am a Mortgage AdviserYou 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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have you a current mortgage, or had one before?I am a Mortgage AdviserYou 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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advantage, platform or gmac might look at it - be more options if you could get a bit more deposit.I am a Mortgage AdviserYou 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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advantage, platform or gmac might look at it - be more options if you could get a bit more deposit.
By a bit more I take it you mean another 5%??
It would be very tight obviously with stamp duty etc, I could get 7/8 easily but 10 may be beyond me.
When you say "might" look at it, what would push it for or against me??
Cheers0 -
credit score/checks, what the new business is, income levels and what you were doing previously. 7-8% deposit will make no difference unfortunately.
If it is a completely new enterprise and you weren't previously self employed then Platform is your best chance. Most lenders want 12 months self employment.I am a Mortgage AdviserYou 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 -
credit score/checks, what the new business is, income levels and what you were doing previously. 7-8% deposit will make no difference unfortunately.
If it is a completely new enterprise and you weren't previously self employed then Platform is your best chance. Most lenders want 12 months self employment.
And as im in Northern Ireland I believe that rules them out for me......:mad:
Are there any cowboys out there who would be likely to give that sort of finance 0 -
they won't lend 95% there for sure. Your best bet is to find a local broker and see what they can come up with.I am a Mortgage AdviserYou 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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Are there any cowboys out there who would be likely to give that sort of finance
If you are looking for cowboys, find one to borrow the small amount needed to make your deposit upto 10%, then take the mortgage with a more reliable lender.
You don't want a cowboy to have security over your home or you'll find wigwams in the back garden!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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