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Self employed, tryin to get a mortgage
Suzidee50
Posts: 8 Forumite
Where is it possible to secure a mortgage for self employed? We have sold our property for £211,000, and buyin for £145,000. Santander won't entertain us! wear with them at the moment. We r wantin to pay a huge chunk off our mortgage with the proceeds of the sale, but it all comes down to affordability. We have never defaulted or anything like that. Advice urgently needed?
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Why won't Santander entertain you?
Do you have accounts/proof of earnings, any adverse credit, Santander are as good/bad as anyone else, without knowing the reason we cannot help.I am a mortgage adviser.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.0 -
Santander Wudnt transfer mortgage to new property, so had to apply for new mortgage. It's the affordability that is the stumbling block, even though we can afford the new property at £145,000. We have never had any defaults or anything. My husband has three years stamped books. So we r really finding it very difficult to get a mortgage!0
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Any advice at all?0
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Go see an independent broker - they'll be able to help.Thinking critically since 1996....0
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Santander can be pretty good on income, what are the last 3 years sa302/accounts income figures?I am a mortgage adviser.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.0
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Il have to ask my husband re figures, (£24,000 gross,) spoken to one financial advisor over phone but no joy, affordability again. Really annoying and disappointing, hopefully seeing a local advisor this week, so fingers crossed0
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Il have to ask my husband re figures, (£24,000 gross,) spoken to one financial advisor over phone but no joy, affordability again. Really annoying and disappointing, hopefully seeing a local advisor this week, so fingers crossed
It's not the gross lenders use its his net ie what he declared to HMRC. The figures are what the figures are. How far off the loan size you need are you with them?0 -
It's approx £12.000 net. We are wanting a new mortgage of£55/56.000. Santander offered him £13,000 which was ridiculous!0
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It's approx £12.000 net. We are wanting a new mortgage of£55/56.000. Santander offered him £13,000 which was ridiculous!
Is the mortgage meant to be just in his name then? If so, then they are counting you as a dependent I assume?
The 12k net, is that an average over the 3 years or just the most recent year?
As others have suggested it may be best for you to see a broker but being self employed shouldn't make it impossible to get a mortgage if the figures are right0 -
No, the mortgage in both names. £12.000 is last years net. Just finding it really really difficult0
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