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Mtg application hell
Comments
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Different lenders view income streams in different ways.
Some will use the PAYE as additional income and allow a percentage of it, others will use it all.
Do you have an accountant?
Why have the brokers walked away from this? Were they fee free? Did they give reasons as to why there was no solution?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 -
The first was basically useless and just have up on the first attempt.
The second inputted the wrong figures but thought we should stay with the Halifax. However he didn't feel he could change the figures so suggested we apply separately.
Having been through this we are understandably nervous!0 -
You need to get a proper broker on to this or do very thorough research yourself and ensure the lender will accept the 1 years accounts and make sure affordability is checked.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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Just talking to my Wife she said to add that the first guy tried to change the dates of my trading and when they asked for more details even though we had them he didn't feel he could go back to them with the answers they wanted as it would contradict his original application details.0
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You may now have National Hunter entries, with different income figures being flagged to potential lenders as a potential fraud issue.
http://www.nhunter.co.uk/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 -
Clarified above...0
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Can only speak from own perspective, but I think a broker who deals with self employed regularly would be of use to you, I only have 1 year self employed accounts, though OH is PAYE and we have just had a mortgage offer. Not high street lender, but reasonable deal - would never have found it alone, though our complicated circumstances have cost us, I think our broker has certainly earned his fee. Maybe call round local brokers and ask how much they've dealt with placing self employed etc?November make £10/day challenge = £874.14/£300
December make £10/day challenge = £98.10/£1550
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