lenders who consider 1 yr accounts

sunny_girl_2

Hi

Could anyone give any guidance on lenders that will take 1 years finalised accounts.
I have been trading for 14 yrs, but had to take a career break for a few yrs (although I kept my annual returns for the ltd company so there has been no break in the company registration).

I returned full time to my occupation in 2016 and have just completed my full yr active trading wef mid Sept 2017- so although the company has been active for 14 yrs, I only have my most recent yr sept 2016-sept 2017 for any affordability assessment as there was effectively no receipts into the company for 4 yrs before this.

My LTV will be between 75% - 80%, I am a current mortgagor with Halifax (been with them 8 yrs), no adverse credit, defaults etc or arrears, and I am looking for a residential mortgage.

Many thanks for all your help guys x

Celepie

When we met with a Halifax advisor some months ago, I only had one year of accounts. He was very confident that it wouldn't be an issue (I was an existing mortgage customer too). I'd recommend talking to a broker - we're just going through the process and ours has been worth her weight in gold. A good broker will know the best lenders to target.

YHM

As above a good broker will be able to guide you on which lenders will be able to support an application from you

Lilla_D

Just to be pedantic, you'll need a lender who can consider the latest year results rather than 1yr accounts. Halifax is good when someone only has 1 year accounts, but in your case they'd average, so they are not likely to be useful for you. Also, some lenders can use profit + salary instead of dividends + salary, which may also help to get the amount you need. As mentioned above, a good broker should be able to help you based on the actual details.