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Getting New Mortgage
Packmanuk
Posts: 5 Forumite
I currently have a mortgage of about £100,000 with a house worth approx £350,000.
I'm self employed and if i got a new mortgage would i need to show earnings ? Currently that would be tough as over the last couple of years my earnings would be shown at below £15,000.
I'm self employed and if i got a new mortgage would i need to show earnings ? Currently that would be tough as over the last couple of years my earnings would be shown at below £15,000.
0
Comments
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You would need to evidence income for any new application.
You could potentially speak to your existing lender and see what they can offer you.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 -
If you are self-employed through a limited company, then some lenders can use profit + salary instead of dividends + salary, which might help. However, if you're a sole trader, then indeed your only option is to see what your current lender can offer. Worst case scenario is that you'll remain on the lender's SVR until you can remortgage or until you sell.I am a Mortgage BrokerYou 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
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