Self Employed Mortage Best Pratice

dtsn

Me and my other half are looking at getting a house in the new year, I already have a mortgage with my current house but she has only in the last year started working as a dental hygienist and is self employed. Originally I thought that you had to have 3 years of books to get a mortgage when your self employed. However has anyone done it with less? If so what are your tips?

Mortgage_Mark_2

There is a lender now who sells themselves on the basis of helping the self-employed, even those with less than 1yr history - speak to a broker as they're not available direct.

ACG

I received that email too Mark - hopefully a sign of things to come, they look like they are doing it the responsible way rather than self cert.

There are lenders who need between 1 and 3 years. The more you have the more options you have but generally speaking 2 yeaars and you will have a few high street lenders available to you.

looknohands

Go broker, I've been self employed 5 years and it was still re-assuring to speak to a broker as i'd heard how hard it was being self employed to borrow. Just make sure you send everything, accounts, SA forms and bank statements that match accounts so they can have a good look. I sent it over and was surprised when she said we could borrow more than I'd anticipated, puts you a lot more at ease when you're looking.

dtsn

Many thanks for all your replies. Does anyone know if it's possible to just declare my other halfs income as 0 and do the mortgage based entirely on my salary. Normally the multiplier for a single persons salary is higher than a joint. Or wouldn't it work this way?

amnblog

You don't have to declare an applicant's employment if you don't need the income to get the mortgage. Simply put them down as not working.