Question for the contractors, self employed, ltd company etc

edited 31 March 2018 at 7:15PM in Mortgages & endowments
11 replies 1.3K views


  • kingstreetkingstreet Forumite
    38K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    willgraham wrote: »
    i have been limited for 3 years now

    but during (year 1) 2015-2016 and (year 2) 2016-2017 i was :
    - taking some time off
    - looking after parents
    -being tax efficient as possible

    it was not till this tax period of 2017-2018 that i really thought hard about my future and to get on the property ladder that i am working as much as possible and this time not being tax efficient

    which is why i will only have 1 years worth of accounts to work off
    You are not a "one year's accounts" case, as that applies to those who have been trading only one year.

    You are a "latest year's accounts" case, because you want a lender to work from your latest year's figures and not a two year average.

    You will have a small number of lender options and you should expect increased scrutiny - you'll probably be asked for two years accounts and/or an accountant's certificate plus your latest two years' SA302s/Tax Calcs & Tax Year Overviews.

    Find a broker who talks about the above and not like those you've selected for contact so far...
    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.
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