Self certified mortgage?

peanutpie05

herbiesjp wrote: »

DO you bank with them or Barclays? This may be the reason the mortgage was agreed for you.

Anyway, what is the split between your incomes?
What is your gross yearly salary?
What is your OHs Net profit for the last 3 years?
How long has your OH been self employed?

My husband is employed £21,611 and I am self employed but as I have only just got into profit ... I was hoping to avoid using the SE figures (thought they may not take them into consideration). But based on the months since I became profitable - the average p/a figure for self employment would be £5768. I also get regualar benefits of £8100 per annum:o (4 children!).

I have been self employed for just over 3 years.

herbiesjp

Those figures, as long as verifiable, will be able to get you a decent high street rate

However it will depend greatly on your whole scenario, such as things like if you have got a good credit history or not

peanutpie05

AndrewSmith wrote: »

No problem

The difficulty is that in a complex case such as yours the ability to offer any real guidance falls way outside the scope of a chat forum.

Each case is different and, as rightly stated by Herbiesjp, there may be a perfectly viable reason why Woolwhich agreed the amount initially.

There are so many variables and things within a clients circumstances that can affect either way the amount a lender will offer that it is impossible to clarify any further I'm afraid. I am only able to offer factual generic information which hopefully may point you in the right direction.

Cheers

Andy

One explanation could be that (according to one lender I spoke to yesterday) apparently they no longer take into consideration the amount of equity you have ... it is all purely based on affordability/money in-money out. I have quite a large amount of equity and I think that was a deciding factor in my previous re-mortgages. I guess the rules have changed in recent years.

Just going by what I was told yesterday .... (think it was Abeey National that said that to me)