Affordability Self Employed

Pearl1

Hi

Trying to remortgage but the affordability rule is causing me a few problems.
At present I've come out of a 5 yr fix with Santander (4.99 £788pcm) and am now on their variable (4.7 £760).
I'm self employed with my last 3 years accounts being 39k, 24k, 16k, but as most lenders take into account 3 years the £140k I need to remortgage for isn't achieveable, apart from Kensingtons who do 1 years.
The problem I finding now with Kensingtons is they say the affordability checklist has been passed and then 2-3weeks down the line more questions would be asked, recent one was they requested my credit card needed to be paid off for them to ok the deal, done that 2 weeks later they then want to know how that card was paid off, & income & expenditure details. This is 2 months on now.
So my question is, am I better off getting in my last years accounts which will give me 40/50k, 39k, 24k giving me a wider choice of better deals, my accountant can complete my accounts in 3 weeks, I feel this would be quicker and opening out better deals than completing on Kensingtons.
Also are they're any lenders who go on 2 years accounts?.
Any info would be great

amnblog

A number of lenders will work on two years self employed figures.

What has your broker said?

Pearl1

I'm sure my broker said there wasn't any companies offering 2 years accounts. Last years accounts have been handed in, hopefully these will be completed in a few weeks, my last 3 yrs books will then read 50k, 39k, 24k

ACG

There are a couple of pretty lenient companies on affordability who only need 1-2 years accounts.

Depending on the LTV possibly even at better rates than kensington.

Are you not ale to do a product switch with Santander without going through an application again?

Mortgage_Mark_2

Kensington only ever look at the last set of accounts, regardless of the length of time you've operated...