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100% Mortgages
Comments
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A lender should lend a multiple of your profit before Taxation. Your daily income as mentioned earlier by you is not relevant.0
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The market is very tight, you have a dodgy credit file, you are self employed. You need to see a broker. Full stop! Going alone you will be declined and that will damage your credit file even further.
In your case you need to worry to be able to get ANY type of mortgage, not the rate. Your rate will be higher anyway because of your credit file and the fact that you bring in very little savings.
Dont waste your time looking for deals online you cannot have. Brokers have specialist sourcing software that shows all 30,000 plus deals available and will filter out those you cannot have......
Brokers speak to lenders to find out if they can submit your case to them, speak to the underwriters to promote your case and why they should lend to you......
And the lenders that would look at you can only be accessed by brokers anyway as they do not deal directly with the public.......
That is what we do in a tiny nutshell.0 -
Thats the info I was looking for!
I'm learning bit by bit every day!0 -
You are welcome!0
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I have one 95% lender that accepts 6 months business figures, but your credit file will need to be on the clean side.0
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Conrad - OP has one year of accounts though not 6 months - or have i got that wrong?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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I have one full year accounts.
so Nov 05 to Nov 06.
My 2nd years will be due in sept,
But can get confirmation from my accountant re: any figures regarding income figures etc.0 -
How many of you lenders does that open me up to??0
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Why is there such a big gap between getting your accounts prepared? (sort of question that will be asked)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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They are due 9 months after end of year.
So they are due this August / September...
Thats normal isn't it?0
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