Self Employed to Perm & my mortgage

weboo

I am currently self employed and am giving it all up and going perm with a company next month. When I was first self employed, I had to provide so many years proof of income etc to get approval for a mortgage.

In January my current mortgage product comes to an end, by this time I will be in full time employment for 5 months.

Will this impact my ability to get a new mortgage? Looking at internet mortgage calculators etc I am able to borrow the amount we need (will have 70% LTV). So do I just provide a few months payslips or will they need more?

ExpertAdvice

Some lenders require you to be employed for a minimum period of 6 months or so while some lenders would be able to offer mortgage even with 1 month's salary slip or even if you have an employment contract in place.

ACG

In the main you should be fine providing you can provide payslips, but a couple of companies do insist on 6 months and/or through probationary period.

So if your looking at lenders, just double check their employment criteria before you instruct and credit searches.

weboo

Thanks all, by the time my current product expired (feb14) I will have 5 payslips (sept, oct, nov, dec, jan) - with a 6th (feb) if we wait a few weeks to transfer. Will also check with Santander about lending criteria..I know the contractor criteria is 12 months..cannot find perm. But lets see. Thanks