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Newly self employed /Re-mortgage
Jamsterthehamster
Posts: 53 Forumite
Hi My Wife will be 1 years self employed in November
I am in full time employment
we need to re-mortgage as our term is up in two years as we were using a guarantor after moving whilst on maternity leave.
My Question is, Is it pain free to get a mortgage based on a self employed and standard employed wage?
I am in full time employment
we need to re-mortgage as our term is up in two years as we were using a guarantor after moving whilst on maternity leave.
My Question is, Is it pain free to get a mortgage based on a self employed and standard employed wage?
0
Comments
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not with 1 years accounts unless the loan to value is pretty low.
It could be possible but one for a broker this as most high street lenders need 2-3 years accounts.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 -
Is your income sufficient to cover the mortgage?I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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income is ok, covering no problem
ltv around 80%0 -
I dont think you will be able to do this unless your income alone covers everything.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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so within the next year after she has been self employed 2 years it should be less complicated?0
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Once she has 2 years accounts there are a couple of high street lenders who will look at it, but some do need 3 years accounts.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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