First Time buyer mortgage for self employed

pksinan

Hello,

I'm trying to get first time buyer mortgage. The problem is that I'm self employed for 2 years and I have accounts SA302 only for 1 year as the second year only finished now.
Can somebody advise me where I can get a mortgage with 1 year accounts?

Thank you.
Peter

amnblog

A good broker can help you with this. There are three lenders who you may get this placed with, but you need a broker to handle the case.

kingstreet

What's your net profit like, Peter and what deposit do you have?

There are lenders who will take only one year's accounts or SA302, but will they lend you enough and at a high enough loan to value?

You'll need a broker for this, so start asking friends and relatives for a recommendation.

neverdespairgirl

Is your accounting year the same as the tax year? 5th April this year?

If so, get your accounts done now, and you'll have 2 years' worth.

ACG

This might come down to deposit. If you can get your second years accounts done then that will help.

If not and you can only get one years then i think your going to be looking at s 20% deposit, if you can get your second years done then you may get away with a 10% deposit.

But this is probably going to be one for a broker.