Self Employed Mortgage Help

preciousb

I am going to be applying for a mortgage in the near future

I am getting paperwork, accounts etc ready for the process.

However - I currently am a sole trader and my husband works in the business as an PAYE employee.

We have payslips etc for my husband which is fine, however what will i be asked for apart from the accounts - i am going to request my SA302 forms now so i have them well in advance.

My question is that i do everything from my business account. So i have some household bills, paye payments to staff, day to day running of the business and living costs, childcare etc go out from this one account including moving chunks of money to my savings account for the deposit.

Will this hinder me and should i be using a normal personal current account for the day to day running. I don't really pay myself however i do use the money in the business accounts for some personal use.

Additionally as my husband gets paid from the business - we try and do most living costs from his bank account.

Not sure what i am expected to do? Is it fine as it is? Or should i be looking to run all personal costs and day to day from our personal accounts?

Thanks in advance

Thrugelmir

On a general level its best to separate your business activity from that of personal. For a number of reasons.

preciousb

Ok so is it okay if i make transfer to my current account to make personal payments for bills, food etc