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Self-employed mortgage
hotrocks68
Posts: 116 Forumite
Can someone please clarify my forlorn predicament.....
Been self-employed for many years and always kept accounts.
Travelled and worked abroad for 3 years up until last August.
Returned to work in UK but obviously have no accounts for past 3 years.
Wanted to buy a little flat for 120k...........using 50k deposit........mortgage of 70k.
No chance right?
Been self-employed for many years and always kept accounts.
Travelled and worked abroad for 3 years up until last August.
Returned to work in UK but obviously have no accounts for past 3 years.
Wanted to buy a little flat for 120k...........using 50k deposit........mortgage of 70k.
No chance right?
0
Comments
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What are your earnings likely to be for this tax year? Do you have an accountant who can provide figures and a projection?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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Since being back in August up until the end of the tax year in March i would have earnt approx 23k.
Next year i expect to earn a minimum of 37k.
My accountant has always done my accounts for the previous tax years...........but not a projection.0 -
hotrocks68 wrote: »Returned to work in UK but obviously have no accounts for past 3 years.
So you didn't declare any income in the countries you worked and neither can you prove the source of the deposit.
Very little of substance to help a lender make an assessment. Nor give any assurance as to money laundering.0 -
Whilst travelling europe,and living in several places..........any work i did was voluntary.
The deposit i have is the proceeds from the sale of my home through the then Abbey,prior to my journey overseas.0 -
Speak to a broker. With a large deposit there could be options for you.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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