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Is mortgage an option
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Thecrazy1
Posts: 62 Forumite
Looking for a bit of advice. I have tried to research this but it is bit of a minefield for the layman.
Case study. 45 year old working full time since leaving school. Got a mortgage based on his income as paye 13 months ago. Started as a sole trader back in April 2017 until Nov when he become ltd. Domestic partner now wants to split up and move out. They have a joint mortgage. He wants to stay for a while and then in about September this year put it on the market. He put up a £60000 deposit and she contributed nothing.
The value of the house may have only gone up by £20000.
The question: if he sells and she is agreeable. He would get his deposit back and maybe a small profit. Could he get a mortgage based on the fact that he would only have been self employed for about 18 months and would he get the same rate as someone employed in a company?
Thanks
Case study. 45 year old working full time since leaving school. Got a mortgage based on his income as paye 13 months ago. Started as a sole trader back in April 2017 until Nov when he become ltd. Domestic partner now wants to split up and move out. They have a joint mortgage. He wants to stay for a while and then in about September this year put it on the market. He put up a £60000 deposit and she contributed nothing.
The value of the house may have only gone up by £20000.
The question: if he sells and she is agreeable. He would get his deposit back and maybe a small profit. Could he get a mortgage based on the fact that he would only have been self employed for about 18 months and would he get the same rate as someone employed in a company?
Thanks
0
Comments
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At or near high street rates area available to the one-year self-employed, yes.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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