Halifax mortgage and self employed

hborris

My partner and I have just applied for a Halifax mortgage. I am employed and he is self employed (sole trader in construction) We have his sa302 from the last 3 years and his tax overview for the last 3 years. From experience do Halifax request any more documents for self employed? Would just like to get this ready.
Also does anyone have any experience on time scales for mortgage application with Halifax recently? I understand self-employed can take longer. We are hoping to complete before stamp duty! 
Thanks in advance 

K_S

@hborris Is he a CIS contractor?

Bizzywizard

To be honest I would use a mortgage broker.....forget about Halifax!
Standard mortgage companies seem to hate the self employed! 
Yes, myself and DH are self employed directors and have staff...my staff can get a mortgage easily but we can't!!!
Myself and DH have no debt and are both 999 on experian credit score, yet we cannot move up the property ladder. We can easily afford a bigger mortgage and have safe jobs in finance!!!!!! but Halifax says no!!!!!
Good luck.

tommyt-saver

Have a search through this section of rhe forum. There’s a previous, recent post about SE and Halifax - they seem to be the most lenient at the mo. And and recent one about time lines… most around a week or two. 

I’m just waiting for my offer decision after valuation on thursday. We’ve not been asked for anything more than tax docs from hmrc. 

Fingers crossed we’ll have an offer on Monday after putting in application on the 30th April. 

hborris

tommyt-saver said:

Have a search through this section of rhe forum. There’s a previous, recent post about SE and Halifax - they seem to be the most lenient at the mo. And and recent one about time lines… most around a week or two. 

I’m just waiting for my offer decision after valuation on thursday. We’ve not been asked for anything more than tax docs from hmrc. 

Fingers crossed we’ll have an offer on Monday after putting in application on the 30th April. 

This feels me with hope! Can you keep me posted please. Our mortgage advisor seems to think they are the best to go with for self-employed at the moment. 

Good to know that your turn around has been 2-3 weeks. I’m so anxious. I don’t think I could wait much longer than that! 

Good luck! Really hope you get that offer tomorrow 

hborris

Bizzywizard said:

To be honest I would use a mortgage broker.....forget about Halifax!
Standard mortgage companies seem to hate the self employed! 
Yes, myself and DH are self employed directors and have staff...my staff can get a mortgage easily but we can't!!!
Myself and DH have no debt and are both 999 on experian credit score, yet we cannot move up the property ladder. We can easily afford a bigger mortgage and have safe jobs in finance!!!!!! but Halifax says no!!!!!
Good luck.

I’m so sorry to hear this! Have you tried ‘accord?’ Self-employed friends of ours got their mortgage with them. The rates wasn’t too bad either 

hborris

K_S said:

@hborris Is he a CIS contractor?

He is a subcontractor 

Beeboo23

I got my mortgage with Halifax being self employed with only 1 year of accounts. Turn around was about 6 weeks but mine probably took longer as not straightforward - needed to be approved by underwriters due to one year of accounts. 

K_S

hborris said:

K_S said:

@hborris Is he a CIS contractor?

He is a subcontractor 

@hborris If he's a CIS subcontractor, works on a single contract at a time and gets paid after a CIS deduction, Halifax is potentially a good lender to use as they effectively treat him as employed and don't need SA302s etc.

For my last couple of CIS clients, the underwriting turnaround time has been a few days as long as there aren't other non-standard details and case is packaged as above. Good luck!

tylney

Hi. Following this post as I'm looking to get a new mortgage I've recently taken a contract paying through cis. I thought I would have to wait over a year. Would Halifax consider before this time?

hborris

Beeboo23 said:

I got my mortgage with Halifax being self employed with only 1 year of accounts. Turn around was about 6 weeks but mine probably took longer as not straightforward - needed to be approved by underwriters due to one year of accounts. 

So good to hear! Thank you for letting me know. Hopefully ours isn’t as long as he has 3 years