Partner previously self employed, now perm and good income, mortgage worry

Kayla3915

Hi

I'll apologise up front if I'm being ott, I'm feeling the anxities

Me and my fiance have received a DIP with Kent reliance mortgages. My partner is an electrian, he earns a good wage and has been employed since December. Prior to that he was self employed so money varied, sometimes great, sometimes average, sometimes low. I'm a charge nurse in the private sector so also good, stable income.

Kent have requested my partners Sa302, last years income was poor, due to him choosing not to work much following a sudden turn of ill health a parent (he did not need to work due to large savings) so did short bursts of temp work here and there

Could this possibly cause us being declined with the underwriter?
And should I expect more requests from Kent?
I'm not even sure we can get the Sa302 quick, the hrmc states allow twenty days

First time doing this, its making me feel ill with anxiety

Thank you if you have any guidance

amnblog

Two points Kayla

The Lender is most likely only requesting this information to evidence previous employment/self-employed history. The income won't be an issue.

What the Lender actually needs are Tax Calculations and accompanying Tax Year Overviews. These are instantly accessible online by the person submitting the Tax Returns.

Kayla3915

amnblog wrote: »

Two points Kayla

The Lender is most likely only requesting this information to evidence previous employment/self-employed history. The income won't be an issue.

What the Lender actually needs are Tax Calculations and accompanying Tax Year Overviews. These are instantly accessible online by the person submitting the Tax Returns.

Thank you, the first part is reassuring. Hopefully we will be able to access them easily, they requested finalised accounts or sa302, which low behold my computer illiterate fiance seems mind boggled how to access. Fingers crossed

amnblog

Does your fiance submit the tax returns himself. If so he can download the tax calculations and tax year overviews from HMRC Gateway.

If he uses an Accountant, the firm can provide the Tax Calculations, and download the Tax Year Overviews from HMRC.

Let me know if you need instructions to download Tax Calculations and Tax Year Overviews from HMRC Gateway.

Kayla3915

amnblog wrote: »

Does your fiance submit the tax returns himself. If so he can download the tax calculations and tax year overviews from HMRC Gateway.

If he uses an Accountant, the firm can provide the Tax Calculations, and download the Tax Year Overviews from HMRC.

Let me know if you need instructions to download Tax Calculations and Tax Year Overviews from HMRC Gateway.

He submits them himself. Is the tax year over view different to the Sa302? Or the same?

Kayla3915

Full mortgage offer now given. That was quick!

kingstreet

Kayla3915 wrote: »

He submits them himself. Is the tax year over view different to the Sa302? Or the same?

For future readers, an SA302 and Tax Calculation sheet are the same. They are obtained differently, that's all.

A tax year overview is now also a standard lender requirement for both.