Mortgages for Self Employed

veesim
veesim Posts: 1 Newbie
in Mortgages & endowments
Hello
Me and my husband have started to look for a mortgage my husband is in full time permanent work but I am self employed and have 1 year and 3 months accounts. I have asked my accountant to do a projection for the next 6 months. The first 3 months for the my second year shows a 66% profit up on last years takings. We are in our 50s and was told that this will go against us. We have a good deposit. So i am asking if there is a good broker who can help us with this matter.

Comments

  • ACG
    ACG Posts: 23,719 Forumite
    First Anniversary Name Dropper First Post I've helped Parliament
    The projection is unlikely to have much of an impact. You are probably going to need a lender who will work off 1 years accounts.

    Your age will not go against you as such, all it will mean is that the term will probably need to be less than a conventional mortgage which in turn can affect how much you can lend. I would normally tell people they can lend around 4.5x income, but with your ages you may find it is closer to 3.5-4x income.
    I am a Mortgage Adviser
    You 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.
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