Self employed small income and mortgages.

Rtj123

I’m 33 and have been a self employed gardener for around seven years. I currently live at home still with my father after a number of personal problems in our family I stayed at the family home. 

I earn around on average 12k per year from my gardening business which has been fine for me up until now. I love my job and am working hard to gain more work. It’s difficult at the moment. I’ve now got a partner and we are working on the next step of buying our first house together . Our total yearly income would be around 38k a year at this current time. I’m quite lucky that I have around 16k in savings so that would cover a deposit of 10% on a house around 160k which we are currently looking at. I’m just wondering if this is anywhere near feasible? 

MyRealNameToo

Do you have other savings for the costs of buying a house or are you going to have less than 10% deposit after taking off legal fees, surveys etc?

Do you guys have any other debts like loans, credit cards, car finance etc?

Ultimately I would speak to a mortgage broker and see what they think is feasible. The fact you have seven years of working as self employed will put you in a better place than someone just starting out as long as the last 2-3 completed years have been a fairly steady income. 

Rtj123

Thankyou. Yes I have more than the 10% deposit to pay for other costs. I also have assets which I could sell if I need to but I don’t want to. 

We have no loans, we have credit cards but they don’t get used, we own our cars so no finance. My partner currently rents a house. My last three years income have been around 12k - 15k is that classed as steady? This year will be slightly less as I had to take some time off from work unfortunately.