Chances for a joint mortgage? 1 x self employed + 1 x employed

Otoma89 · 20 February 2017 at 12:43PM

Hello,

Apologies all for the amateurish post, I've never posted on a forum before..
My current situation is as follows.. me and the wife are looking to buy our first home, we live in London so are looking at a 2 bed for around £300k. We have a 10% deposit so were looking to borrow £270k and have been looking for mortgages suiting our current work situation. My wife is in full employment and has been for the past 3 and a half years. I however have been self employed for around a year and 4 months, prior to this I worked in the same industry as an employee for 3 years. I have one year full accounts but from what I can see most lenders require 2 years?

My income is £52k and the wife is bringing in £36k, so hers alone will not suffice.

Does anyone know of any lenders that will take both of our incomes into consideration for a 90% FTV, or if anyone can offer any othwr help/suggestions it will me extremely appreciated.

Many thanks in advance.

kingstreet · 20 February 2017 at 12:44PM

Yes. You should seek broker assistance for the options of lenders who accept only one year's trading.

ACG · 20 February 2017 at 2:37PM

There are a handful of lenders who will look to accept one years accounts, especially where you have a history in the same industry. You should have a couple of options at normal rates, but it probably is one for a broker as most high street lenders need 2-3 years accounts.