Self employed,where do we start!!

Danni1979

Hi all,me and my OH are starting to think about getting a mortage and straight away we seem to have encountered a few problems.
My OH is a self employed taxi driver,he started in november so we're not quite sure how much he will earn.,we are first time buyers.
Neither of us have ever been in debt so we shouldnt have a bad credit rating but from what i've seen looking about no one will touch us just yet.
Also is thier any advice for us,ie best to wait awhile or save up money first.
What do you guys think?

foot_loose

Go to a fee's free mortgage broker. there are still places you can get mortgages from.. how much depsit do you have? the more the better.

also don't listen to all that 'people won't touch you at the moment' its rubbish, if you need to borrow money there is always someone to lend it..

Danni1979

Phew thanks for that,was starting to feel pretty dismal there!!
We havent acually got a deposit yet,was maybe thinking of borrowing or just hanging around and saving fr a while only really started thinking about all this today so i'm trying to learn as much as i can before we decide.

Danni1979

Have i just done my figures rght?it seems if we want a mortatge for 160,000 we'll have to save a deposit of 15% which i make to be 24,000!!