We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Could I possibly get a mortgage any time soon?

Fred1200_2 · 2016-03-11 08:18:50

Right, so... I earn roughly £22k a year at the moment ( freelance so pretty hard to get an exact figure together) I have about £100K available as a deposit ( currently tied up in my late mothers house which I own half of) and I have about £10k in savings readily available to me. I'm looking at buying a house worth around…

Comments

kingstreet Posts: 39,442 Forumite

11 March 2016 at 3:22PM

Fred1200 wrote: »

freelance so pretty hard to get an exact figure together

Presumably you mean self-employed?

A lender will take your latest two years net profits and average them if the latest year is higher.

If the latest year is lower, they will take the latest year alone.

I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
0