Mortgage advice - broker? Self employed.

springyboing

Hi,

I have been self employed for about 18 months. I would like to buy a house with my partner, who is also self employed. He currently owns a small property but is having difficulty selling. If he is able to sell, he can 'port' the mortgage he already has, and we can add to that - we have had phone advice from his current lender, and will get a mortgage agreed in principle.

If he is unable to sell, I am considering buying on my own. I have a settlement from my recent divorce, so have a reasonable deposit, but am aware that having been self employed for such a short period of time is not ideal. I do not know whether I need a mortgage broker, or a mortgage advisor, nor how to go about choosing one. Do I need to see a specialist because of my self employed status? How do I choose who to get advice from? Should I expect to pay for advice, and how much please?

Many thanks

YHM

Would definitely suggest getting a mortgage broker. They would review the market to find a suitable lender, especially with such a short trading history.

Brokers usually get business through word of mouth or recommendations from previous clients. In terms of paying, well this is down the agreement you strike with the broker. Most brokers charge a fee of anywhere between £195 - £795, dependent on how they agree with they will be getting paid and the complexity of the case at hand.