Self employed with bad credit and a BIG difference in recent years books.

Mark_ahoy

Good afternoon,

I'm always on the MSE forums trying to find a post that has a similar situation to myself but of course everyone is different so I thought I would try asking for some advice:

I am a self employed log cabin builder and I've been registered since 2011. My issue is my wife and I have travelled the world and enjoyed our actual lives but may have done a hindrance to our 'Computerised, made-up-so-the-banks-don't-lose-anymore-of-our-money lives' (Not the biggest fan of corruption). Anyway, my last 2 years worth of books are vastly different in amounts, £40k+ different!

Also I have 2 defaults on my credit score from 2008 but I payed them off fully in 2012 and 2013 so they still appear on my account.
I have a 15% deposit and I've been looking into specialist brokers but I just worry a bit about who you can trust these days!

My wife and I had a house set up, agreed a mortgage with Halifax and it went to an underwriter who questioned the difference in yearly accounts and also my wife was made redundant so we couldn't continue with the application and lost an amount of money on solicitors :mad:

I don't want to go down the road again and get so far and have to pay money for another house I have to pull out of.

Does anyone have any advice they could offer or know of any decent lenders?

Thank you for your time
Mark :money:

ACG

You probably will need a broker, if the income has gone up it should not be an issue. If it has come down then it could be, but not enough to prevent you getting a Mortgage.

The defaults are not a major issue either due to their age and the fact they have been satisfied for some time, with 15% they will be easy enough to overcome also.

I think you really do need to speak to a good experienced broker.

In terms of not knowing who to trust, all brokers are (or should be) on the FCA register. You can get their FCA registration number usually form the brokers website and check it on the register.

ACG

Forgot to say, do not instruct solicitors until you have a full mortgage offer. Losing money on solicitors is usually avoidable when the reason for it not proceeding is because of the underwriters.