Mortgage advice for my self employed daughter

avabet

My daughter and her partner are both self employed. She earns £35k tax free ( she runs a a care home for people with learning difficulties which is tax immune), her partner earns £20k. Because she doesn't need to keep accounts she is finding it impossible to obtain a mortgage although she has a good credit rating, has had this level of earnings for 3 years and pays out £900 per month in rent. Because of her business she needs at least four bedrooms as she also has 2 young children. She therefore needs to spend around £300- £350k minimum to achieve her goal of owning her own property. They have just over £10k in savings, can anyone give me some sound advice to pass on?

Carl31

Surely the care home may not be subject to tax, but her personal income must be? whether received as a salary or dividend from the home?


Edit : Do you have details of why her earnings are tax free? I am intrigued, I cant find any details at HMRC

chewmylegoff

Perhaps OP's daughter is a foster carer for children with learning difficulties? You can get a significant amount of tax free income for doing that. If so then the OP could google "foster care mortgages".