Are we likely to get a bigger mortgage or not!

mummyemmy

Hi - We currently have a mortgage which we got when both my husband and I were both working for an employer. My husband now works as a self employed childminder. We would love to move to a bigger house but just worried we won't get granted a bigger mortgage.

I currently earn £27Kish after expenses etc my husband brings in between £10-15K. (Even though the actual money we see is more than this and sometimes exceeds my monthly income, but due to the expenses childminders can put against their tax return it brings the actual profit figure in quite low). When I put these figures into mortgage calculators it doesn't look likely that we'd get the mortgage we think we'd need.

We would have approx £30K deposit and would look at a house around the £200K mark. We could comfortably afford £900 a month on a mortgage and could go back up to a 25 year mortgage if needs be.

Can anyone please give us some advice, is it likely we would get a larger mortgage or not!!

Thank you

kingstreet

Use a lender's affordability calculator.

Enter the average of his net profits for the last two tax years as his income.