sole trader mortgage

middy991

hi everyone so looking for advice,i was made bankrupt bout 5 years ago and discharged over 4 years,Iam a sole trader and iam wanting a mortgage not a big one maybe 110k tops and have a deposit around 20-25k,been trying google to find a broker but no idea where to start

please help am fed up of paying rent

ACG

Find one with experience of adverse, that will probably be the harder bit to overcome, depending on how many years accounts (self assessments) you have and the figures involved.

middy991

only have 2 years first year nothing special but last year made 17,500 and paid my husband 11k was advised to do it this way for tax reasons by accountant,his credit is dreadful thou Really at a loss as where to find a mortgage broker as google searches seem a bit dodgy

ACG

Mortgage brokers are regulated, their website should have a number on there (6 digits) - put it on this site https://register.fca.org.uk/ and it will tell you if they are legit or not.

middy991

Thanks but is there any chance or am i dreaming,any idea

thanks

ACG

Bankruptcy and seperate bad credit isnt a great mix.
On the plus side you have a decent deposit.

I reckon there will be options, but I would not want to say what the rates would be, anywhere from normal (2.5%-ish) up to around 6% or possibly as high as 8%. You will need a broker to go through your credit reports really.

middy991

ok many thanks but since the bankruptcy my credit files are really good been cleaned up and no missed payments since

ACG

Im not sure your income alone would be enough, so you would then need to include your partners income potentially which means their income comes into play.