Self employed seeking mortgage asap :(

Hi guys, has anyone on here been able to get a mortgage when having less than a years worth or books? Our landlord is kicking us out in less than 7 weeks but we want to buy it so are scrambling to try and find a mortgage. the house is worth around 90k and would want as higher percentage mortgage as possible. has anyone had any experience in this in the past? Its very much a long shot but I am trying to stay optimistic about finding a off the high street lender who will empathize with our situation.

thanks

Bruce

 

You will have to shop around - when I was contracting it was 3 years worth of receipts before you could have a reasonably priced mortgage otherwise its a silly APR rate! Scumbags the lot of them.

 

I'm in a similar situation. My girlfriend and I are both self employed with less than 3 years decent books, we got a mortgage through nationwide. Might be worth trying them. Good luck

 

to be honest, I don't really mind what the rate is, I can review that in a couple of years, I just want the bleedin mortgage, I will have a years books at the beginning of May so hopefully if the Landlord can hold off I may be able to get a years before the mortgage needs taking out, plus that would give us time to save for the deposit, as at the moment it means selling the bus

cheers guys, I will try nationwide.

fingers crossed!

 

With the new affordability rules, mortgages are a nightmare to get for self employed.

 

NatWest wont stop asking us since we made an enquiry over a year a go, so might be a shot for you.

 

I had a meeting with a financial/mortgage adviser today who has contacts withing the non high street lending circles so fingers crossed there, and I have a meeting with Lloyds tomorrow about it so fingers crossed there too, even got my balls crossed...and that aint easy!

 

i'm self employed and have been for ever , i was lucky to have around 5 years books when we were looking for a mortgage

but we got ours from the same bank as i used for my business and was told they looked at me more favourable than my employed wife

their argument was she could be made redundant tomorrow but a self employed person will always find something and they are able to see what's going in the business account anyway

 

we banked with Lloyds

 

I did after 3 months, but that was 20+ years ago when you could talk them into it and present made up income forcasts and the like. Not easy now.

 

My son got one with nationwide who he had saved with since his teens , he had only got 1 years self employed just under two . Year later he bought another place , if you have a partner in full time employment it may help , its all about deposit i think too . Good luck

 

^^^^Rules are there to be broken, and a decent financial adviser/ mortgage broker will get you the loan. But as previously mentioned, you will get stung for a higher rate and even more so if you have little or no deposit. But the rate becomes irrelevant compared to your current position of renting. I agree with what you are saying about delaying till May if the vendor/landlord agrees. But I think you're losing the plot even contemplating selling your van. Good luck. If you want something badly enough, you'll find a way to get it

 

Move into the van for a couple of months!

 

Who do you have your books with?

Have you banked with them a while - I imagine that might be your only slight chance - but to my knowledge the year caveat as mentioned by @Baysearcher mentions stands.

 

I wouldn't even bother approaching the banks, find yourself a decent independent mortgage advisor/broker (whole of market).
Then you may get somewhere.

 

Sounds like you haven't come across a decent broker. I agree that the mortgage scene has changed dramatically over the last few years and I agree that Brucieboy will struggle with the mainstream lenders. But my glass is always half full and with good reason.