Self employed mortgage 1 year accounts

Cheesecake67

I am self employed 3 years, first year profit 16000 second year profit 20000 third year profit 410000. I want to get a mortgage for 180000. Is this going to be possible or will I need to have two years at 41000?

amnblog

Depends on the Lender you use, speak to a good Mortgage Broker. Some Lenders will work on latest year's figures.

ACG

4.5x income on latest years figures should be possible. But is dependent on the rest of yoru situation (age, commitments, family etc). 

As above, speak to a decent broker and they will be able to guide you. 

Jemma01

I go home with 100k (after taxes and all), I'm borrowing 175k over 20years period. Wasn't a problem for HSBC. Two year accounting requirement. Your business is clearly doubling every year, can't see why they'll accept mine and not yours (assuming you have good credit)