Mortgage advice needed.

Mr_Pickles_3

We currently have a mortgage with Satander and we want to sell our place and get a bigger place. I am employed but my husband is a self employed sub contractor. Does anyone know if our mortgage company are going to be helpful or if this whole crack down on self cert mortgages will affect us? When we first got the mortgage 5/6 years ago my husband was employed. Any advice is so appreciated.

kingstreet

If you go back to Santander, you will be treated as a new borrower like any other. You'll need to produce evidence of income in a format which is acceptable, such as SA302s from HMRC for a couple of years, possible three.

As you say self-cert no longer exists and lenders are expected to establish income and affordability by gathering evidence.

If you have concerns, you may wish to speak to a broker who may have better options for you.

Wh05apk

We will need more info, mortgage/property val, also an idea of yours and OH income, does he have any accounts? how long has he been a contractor?

JimmyTheWig

No self-cert doesn't mean that self-employed people can't get mortgages.
It just means that self-employed people can't walk into a bank and say "Hello, I earn £100k a year" and get a £300k loan. You need to be able to demonstrate your husband's earnings (e.g. last 3 years of accounts or tax returns).

amnblog

Is your husband on CIS certificates?