Self employed new build mortgage... is it possible?

Siouxrb

Hi,

My partner has been in business as a director of a limited company for 2 years in August but we want to find a mortgage lender that will lend to us with less than 2 years' accounts as we've found our dream home already.

It's a new build property so wondering whether that complicates things or whether Precise / Kensington and the likes will consider it.... my current mortgage is with Santander and they've said categorically no to less than 2 years...

Any advice would be great!

kingstreet

We have placed such cases, yes.

ACG

You could work off 2 years SA302s as they go April to April. The first year presumably will be lower but when averaged out they could be enough?

Failing that, there are lenders who accept one years accounts and will do new builds.

How much is your deposit? (percentage wise).

Siouxrb

We've got 33% deposit... first year and second year are roughly the same. How would I go about finding companies that would accept us?

Thanks so much for your help!

kingstreet

Ask friends and relations for a broker recommendation.

Failing that, I'd be surprised if your builder hasn't got a pet broker for you.

htaylor16

My OH is a self employed contractor with a limited company. We managed to get a mortgage with Halifax which was assessed on his hourly rate rather than his year.y accounts. We re buying a new build with 5% deposit and help to buy. Got the Mortgage offer yesterday, hoping to exchange next week. We used a broker who specialises in contractors and self employed people.