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First time buyer mortgage... self employed... Advice...

Hi All,

I'm still looking to buy my first flat. I've recently been given some money and want to spend most or all of it on buying a flat in London.

I've never been able to consider this before as I am self employed freelance and my income has been patchy at best until the last year or so.

I have between 150k-200k to put into a flat. And would potentially like to borrow another 50k as mortgage. Do you think that is possible as a freelance worker with less than 2 years regular decent income?

Advice on odds of this happening and who to try? I'm new to this stuff so idiot proof language please....



  • ACGACG Forumite
    22.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    With that sort of deposit im sure you will be fine.
    There are lenders who require 1 years accounts or 2 years and will just use the latest figure. So assuming your income is £20k plus then I imagine you will be fine to get a mortgage of £50k.

    Probably worth having a chat with a broker though just so they can cut out the lenders who are going to want to see more accounts than necessary.
    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.
  • Thanks for the reply. Really helpful.
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