Second Income/Student/Stamp Duty Dilemma

emvhunt0001

Hi all,
Hope you are all keeping safe and well.
Its never simple with us! Little back story - I have always been a teacher and my other half a professional footballer - full time until recently where he also decided to train as a teacher. Currently he's not paid for this. I know from experience that lenders will accept letters of acceptance for a teaching post so this will be good news when he does eventually get a job in the next year. We have ALWAYS struggled to get a mortgage, despite being more than comfortable financially because of football so I know they (the dreaded lenders) wont care that he does earn £1k playing part time semi professional football. The rest of his current income in student finance.
In January I opened my own network marketing business and currently am earning handsomely off that, plus my teaching wage. I'd love to know, do lenders still want two years of books from me, despite this being a second income? If not, how long do they ask for?
Also - with COVID, what % deposit are we talking? I really want to squeeze in move before the stamp duty holiday ends but its not looking likely if they want 20% deposit, 2 years books and my other half doesn't secure a teaching role before then (as I already know be could be earning millions with football and lenders wouldn't care!! There's no point in even counting this income is there?)
I haven't actually done a tax return yet as I'm still within my first year - I can prove my income though - does this matter?
Thank you in advance
Emily

ACG

You are wanting to combine a lot of things there:
1) Football income - possible, but to use that income you are reducing your lenders down to a handful of options.
2) Self employed income - 2 years usually, but one years trading is possible. 
3) New job - again, possible but usually need a start date within the next 3 months. 
4) Deposit - probably looking at a 15% in an ideal world. 

I think using all 3 is going to be very difficult, there is a lender or 2 who may consider it but I think although it probably fits criteria when an underwriter gets hold of it, there will be too much for them to actually accept it. 

For me, I think the most likely combination would be to ignore the football income and look at one years accounts with a new job offer letter and a 15% deposit (you might get away with 10% but it really depends on what is available). 

As you say, it is not going to be the easiest to place, you might get normal rates, you may find you need to pay "specialist" rates for 2 years. I think you need an experienced broker because I cant imagine this will fit with any of the mainstream banks. Best case scenario would be a building society I think, worst case a specialist lender.