Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Conney Mogg
    • By Conney Mogg 14th Apr 18, 10:23 PM
    • 2Posts
    • 0Thanks
    Conney Mogg
    Self employed mortgage!!
    • #1
    • 14th Apr 18, 10:23 PM
    Self employed mortgage!! 14th Apr 18 at 10:23 PM
    Hi guys,

    My husband and I are currently saving to get a mortgage.
    It looks like my husband may be changing jobs and going self employed. Will this affect us being accepted for a mortgage?
Page 1
    • csgohan4
    • By csgohan4 14th Apr 18, 10:29 PM
    • 4,424 Posts
    • 2,774 Thanks
    csgohan4
    • #2
    • 14th Apr 18, 10:29 PM
    • #2
    • 14th Apr 18, 10:29 PM
    Going self employed so soon before a mortgage app will make it difficult, you need to prove you can earn enough to pay a mortgage, generally 2 years worth of tax returns as self employed.


    But consult a broker who can help you and individualise your situation to a lender
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Conney Mogg
    • By Conney Mogg 14th Apr 18, 10:33 PM
    • 2 Posts
    • 0 Thanks
    Conney Mogg
    • #3
    • 14th Apr 18, 10:33 PM
    • #3
    • 14th Apr 18, 10:33 PM
    I thought that may be the case.

    Thank you
    • ACG
    • By ACG 14th Apr 18, 11:08 PM
    • 16,816 Posts
    • 8,771 Thanks
    ACG
    • #4
    • 14th Apr 18, 11:08 PM
    • #4
    • 14th Apr 18, 11:08 PM
    1 years accounts/self assessment will be needed as a minimum. 2 years will open up many more options.

    The only exception to that would be if he becomes a contractor for a company, in which case there are lenders who will look at the contract.
    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.
    • ProDave
    • By ProDave 15th Apr 18, 10:22 AM
    • 843 Posts
    • 955 Thanks
    ProDave
    • #5
    • 15th Apr 18, 10:22 AM
    • #5
    • 15th Apr 18, 10:22 AM
    We are on the receiving end of this situation. We are currently letting our old house to tenants who want to buy it but are both self employed. They have been told minimum 2 years accounts, preferably 3.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,106Posts Today

5,930Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin