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Help! Self Employed Mortgage Advice
NS123
Posts: 2 Newbie
Hi
My husband and I have been running our business for 2 years. We have just filed our second years accounts. We can find lenders that are happy for 2 years accounts but our problem is that he has been a Director from the start and I only became a Director last year.
I've been told we will need 2 years SA302. My husband will have 2 but I will only have 1 and a P60 for the previous year, when I was an employee.
We are speaking with a broker who is struggling to find us a mortgage.
Is there a anyone out there who has been in a similar situation or can give any advice on what lenders may be able to help us. I was hoping as we could prove 2 years worth of earning for both us and the business we would be ok but apparently because I haven't been a director the whole time it might not be possible???
My husband and I have been running our business for 2 years. We have just filed our second years accounts. We can find lenders that are happy for 2 years accounts but our problem is that he has been a Director from the start and I only became a Director last year.
I've been told we will need 2 years SA302. My husband will have 2 but I will only have 1 and a P60 for the previous year, when I was an employee.
We are speaking with a broker who is struggling to find us a mortgage.
Is there a anyone out there who has been in a similar situation or can give any advice on what lenders may be able to help us. I was hoping as we could prove 2 years worth of earning for both us and the business we would be ok but apparently because I haven't been a director the whole time it might not be possible???
0
Comments
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Is your broker struggling to place it full stop or....?
I would be surprised if you could not get a Mortgage.I am a Mortgage AdviserYou 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.0 -
He's struggling full stop. If you think it could be possible I guess it might be worth me trying another broker?? Don't suppose you would know of any lenders who would be worth a try?0
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I do, but we (brokers) are not allowed to discuss lenders on this forum. We are only able to give generic information only.
If your broker genuinely is struggling then I think you should look for another broker.I am a Mortgage AdviserYou 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.0 -
I agree ACG, if he is struggling with that he may need some training!
Shaking my head in disbelief!
LOL
MMI am a Mortgage Adviser
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.0 -
We all have parts of the market we go after, some want straight forward cases (typically your estate agent or bank advisors), others go after the little more complex cases. Personally I find the more complex cases more interesting but everyone has their own part of the market.
If you put a shared ownership case or self build on my desk for example I would spend a few hours scratching my head.I am a Mortgage AdviserYou 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.0 -
Unless there are further complications on this case you should find a home for it and need to speak with a broker more experienced with the self employed.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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