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Mortgage - Latest years profits? Self employed
Sarahf88
Posts: 1 Newbie
I am self employed and am looking for a mortgage company which take base my income on my latest years profits rather than an average of 2/3 years (I have accounts for 3 years, profit increasing).
I would be grateful if anyone could let me know of banks/building societies which offer this, I have found a couple so far but wanted a wider range to compare rates.
Thanks,
Sarah
I would be grateful if anyone could let me know of banks/building societies which offer this, I have found a couple so far but wanted a wider range to compare rates.
Thanks,
Sarah
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Comments
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Do you definitely need the mortgage based on your last years income? as by doing that you will limit the number of lenders, and not get the best deal.
Which lenders have you found so far?I am a mortgage adviser.You 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 -
Self assessment returns for the past 3 years is essential.
Plus for the current tax year, if you are able to show on going business bank statements etc that should be ok I would think.. ?
IT Contractor myself - just been to see the Halifax this morning..0 -
If you are an IT contractor talk to https://www.contractormoney.com
They take the value of your current contracts in to account, not previous history of income.
My wife has been an IT contractor through a limited company for the last year and they got lenders to consider income from her main contracts in the income calculation.
Gary.0 -
Thanks for that Gary.. Will give that a try..
For the moment, I've just been looking up high street banks and giving them my personal circumstances... (They do tend to be on-guard as soon as you say you are a 'contractor')... Besides, I'm also on a Tier-1 general visa .. that doesnt really help my case.. Lol... oh well
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