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Mortgage and change in career
motive10
Posts: 1 Newbie
First time poster, so please be gentle!
I find myself in somewhat of a sticky situation.
Im a first time buyer with 3 dependents i'm married and in a business partnership.
Im going self employed and a partner is dissolving the company (moving abroad).
Like anything the timing couldnt be worse, i know my income will stay static when becoming self employed, but its just at the time that i will be getting a small mortgage (20 - 30% of the value of the property).
Being in a partnership is as good as being self employed as all 3 of us do our own tax returns and a partnership return. But im not sure how a bank or mortgage advisor will take to the change in circumstances.
I have a meeting on monday, but thought i would see if anyone could shed any light on what a response may be whilst im worrying about it now!!!
Any light on the situation would make me very grateful!
Thanks in advance
C. :eek:
I find myself in somewhat of a sticky situation.
Im a first time buyer with 3 dependents i'm married and in a business partnership.
Im going self employed and a partner is dissolving the company (moving abroad).
Like anything the timing couldnt be worse, i know my income will stay static when becoming self employed, but its just at the time that i will be getting a small mortgage (20 - 30% of the value of the property).
Being in a partnership is as good as being self employed as all 3 of us do our own tax returns and a partnership return. But im not sure how a bank or mortgage advisor will take to the change in circumstances.
I have a meeting on monday, but thought i would see if anyone could shed any light on what a response may be whilst im worrying about it now!!!
Any light on the situation would make me very grateful!
Thanks in advance
C. :eek:
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