would I need self cert??

mishmash

Hello

My OH and I have a good deposit, (around £140k) when our house sells. This will be about 40 to 50% of the prices we are looking to buy. He is self employed and has about 10 years of accounts so no worries there (he earns about £12k per year).

I am on a temporary contract (ending in Nov), however for many reasons not happy at work and could make much more money, work less hours and be home with the kids more if I worked via an agency. The line of work I am in is in demand and agencies have work in abundance. I would be earning at least £40k.

Via an agency you can be self employed or on a temp contract.

so would I be seen as a risk? would I need self cert? or how many wage slips or bank statements would I need to provide to prove my income?

Sorry if that is confused, I seem to have myself in a right old muddle.

Mish

homer_j_3

Firstly, you can only declare what you are actually earning and secondly, you would limit your options with limited trading on a self employed basis.

mishmash

HI

Thanks for the speedy response.

I would only declare what I was earning? What does that bit about limited trading mean?

if I got a weekly wage slip how many weeks would a mortgage provider need as proof of income? Could i do it that way intead of being self cert?

Mich

homer_j_3

When you are employed, more often than not, the lender wants you in a permanent position.

Where you are on temporary contracts, it will normally mean that the lender will not accept this or if they do, want to see that you have plenty of time on your contract left and have history of being in continuous work. The lender will get this information through referencing that they do once application has been submitted.

You stated in your original post that you COULD earn 40k easily, hence my reference to the fact you should only declare what you ACTUALLY earn. If you are earning £10-15-20k a year at the moment then that is what you have to declare.

If you were to change roles now and go self employed, your trading period would be from the day you went self employed and a lot of lenders, but not all, want a minimum period of time, this could be 6,9 or 12 months.