chances of getting a mortgage?

super125

My partner's debts were due to expire at the 6 year point which was 28/05/14. I will give it one month and order copies of his credit report to ensure they are no longer shown. This being the case he will have just one late payment on a phone bill. My own credit report is clear.

He is self employed earning 35, 000 before tax
i am full time employed earning 32, 000 before tax
we have a 35, 000 deposit and 3/4 K for expenses but could have 40k by the end of this year if this would get a better deal.

How much could we borrow?
Is it difficult to get a mortgage when one partner is self employed?

super125

i wanted to add that we both maintain credit accounts, phone, c/card [me not him], utilities etc and have both been on the electoral register for some years so hoping that will not cause us too much bother.

should he be looking to get a c/card to help his credit score perhaps?

Thrugelmir

Credit cards don't improve your score that's a myth.

super125

many thanks for the reply - that is good to know.

ACG

Between 4-5x income is achievable possibly more possibly less.

It will come down to how many years accounts are available and how much is on the last 1-3 years.

super125

he was employed for 1 year during the last 4 year period - the rest self employed.

as long as he can provide copies of p60 and annual tax return will that suffice?

ACG

No.

It would need to be consecutive years accounts and/or SA302s.

If he has only been self employed for 1 year then you will be very limited in terms of options and will probably need a broker.

If he has been self employed consecutively for 2 years then this will open up more doors.

Like wise 3 consecutive years you will have more options still.