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New Business & New home...possible?
Wizwoo
Posts: 675 Forumite
Hi,
We are about to buy an established retail business as well as a house (moving back to Cheshire). How difficult will it be for us to get a mortgage? Any ideas?
We are happy that the business accounts are healthy but will a mortgage lender take that into account?
Thanks,
Woo
We are about to buy an established retail business as well as a house (moving back to Cheshire). How difficult will it be for us to get a mortgage? Any ideas?
We are happy that the business accounts are healthy but will a mortgage lender take that into account?
Thanks,
Woo
0
Comments
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What percentage of the purchase price is your deposit?If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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Hi,
We should have about 25% deposit. We do plan to use a decent amount of equity from our current home to fund the business, keeping some for that deposit.
Our main worry is whether earnings from the new business will be included against what we can borrow for a new property.0 -
I would suggest you put your case to your current lender (or another lender if you prefer or even a mortgage broker). Different lenders have different criteria, so you may have to shop around.If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0
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