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Self Cert mortgage advise
sharpei45
Posts: 3 Newbie
Any advice will be gratefully received.
My newish husband and I currently own a business which is purely in my name. We are in the process of selling it which will give us the deposit for a house. I have 4 years accounts for this business. I am setting up a new business that has no real accounts as yet, my husband is getting a job. I have an excellent credit rating his isn't too bad but not great. Most of his problems stem from his previous marriage and currently we have no joint accounts at all.
We're not even sure where to start. do we show my accounts for the current business and what sort of detail will be required, or do we just totally apply for self certification and on that basis what kinds of proof is required. we have both had mortgages in the past with no problems.
My newish husband and I currently own a business which is purely in my name. We are in the process of selling it which will give us the deposit for a house. I have 4 years accounts for this business. I am setting up a new business that has no real accounts as yet, my husband is getting a job. I have an excellent credit rating his isn't too bad but not great. Most of his problems stem from his previous marriage and currently we have no joint accounts at all.
We're not even sure where to start. do we show my accounts for the current business and what sort of detail will be required, or do we just totally apply for self certification and on that basis what kinds of proof is required. we have both had mortgages in the past with no problems.
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Comments
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The existing business figures are what is relevant here. Only a couple of lenders will consider a brand new business but they hardly lend anything now.
You dont say what percentage deposit you have. His poorer credit rating could well disbar him if you are not putting sufficient deposit down.
As for showing accounts v self cert, well we need to know how much net profit the business showed in each of the last 3 years to pass an opinion. Remember thats NET profit.0 -
As the existing business is being sold then there will be no future income from it so a sensible lender should totally disregard it unless you intend to lie or keep it from them that you are not selling it and losing the income that it provided.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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So what will we have to do to get a self cert mortgage. I won't be telling lies also my husband has now got a job offer with a guaranteed income. Is it possible to do half and half ie i self cert? we are really worried about this0
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