Self-employed re mortgage eligibility worry

PhillipBroom

Hello! My partner and I are currently 3 years into a 5 year fix with Halifax at 3.89%. We have mortgage of 83k. We are looking to remortgage with Halifax for an extra 30k for urgent house maintenance and to pay off debt accrued from work already done and the fact that I've been a full time student for 3 years (alongside working!!) Based on current market value - with the extra 30k our LTV would be approx 46%. We are both self-employed and our average joint earnings over past 3 years are 26k. Our worry is that my partner's accounts show a loss - tax year 14/15. Will this make a difference due to new affordability checks? Should we go straight to Halifax or through a mortgage broker?

This is my first post so please excuse any errors in forum etiquette Huge thanks in advance.

amnblog

Yes it will make a difference and Halifax will be very nervous about your Partners figures.

You are of course not limited to Halifax to raise the extra.

A broker is a better bet here.

PhillipBroom

Thanks for your reply.

I hope this doesn't sound like a silly question but why would a broker be better?

amnblog

Becuase when Halifax say 'no' you'll have to go to a Broker anyway.

If Halifax are likely to say 'yes' (it does not sound like they are), the broker will know.