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Plz Help - Mortgage Accountant Reference Issue
sslondon
Posts: 4 Newbie
Hi All
We applied for a mortgage last week with Halifax. I went self employed last year and my wife is in full time employment.
Because i only had 1 years SA302s, the broker said we can only apply with Halifax. Both of our credit scores are 999 on experian and no other issues whatsoever. The broker spoke to Halifax, who said they will consider us.
I was PAYE on £37k until July 2012, then i left my job to focus on my business full time and by the end of April 2013, i took out £9k of dividends.
So for Tax year ending April 2013, my income was:
£12k Paye
£9k dividends from my company
Tax year 2012, income was £37k Paye
My wife is on 20k Paye.
Total annual household: £41k
Mortgage needed: £160k
Halifax asked for an accountant's reference. In the reference my accountant wrote "from previous employment" against £12k PAYE for 2013 - which is true but the broker says he shouldn't have done that, as now they will see my income as 9k not 21k and the application will most likely be rejected.
I have had some differences with my accountant in the past, and i felt that he wants me to take my accounts somewhere else, so i do not know if that's why he did it. He charged £200 for that reference.
Has anyone had a similar experience before?
Will Halifax reject it flat out or will they say that we can only offer you £120-130k?
We applied for a mortgage last week with Halifax. I went self employed last year and my wife is in full time employment.
Because i only had 1 years SA302s, the broker said we can only apply with Halifax. Both of our credit scores are 999 on experian and no other issues whatsoever. The broker spoke to Halifax, who said they will consider us.
I was PAYE on £37k until July 2012, then i left my job to focus on my business full time and by the end of April 2013, i took out £9k of dividends.
So for Tax year ending April 2013, my income was:
£12k Paye
£9k dividends from my company
Tax year 2012, income was £37k Paye
My wife is on 20k Paye.
Total annual household: £41k
Mortgage needed: £160k
Halifax asked for an accountant's reference. In the reference my accountant wrote "from previous employment" against £12k PAYE for 2013 - which is true but the broker says he shouldn't have done that, as now they will see my income as 9k not 21k and the application will most likely be rejected.
I have had some differences with my accountant in the past, and i felt that he wants me to take my accounts somewhere else, so i do not know if that's why he did it. He charged £200 for that reference.
Has anyone had a similar experience before?
Will Halifax reject it flat out or will they say that we can only offer you £120-130k?
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