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self employed mortgages

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Can anybody tell me if applying for a mortgage and you are self employed what do they require in respect of paperwork to prove earnings and how far back does that paperwork have to go. Have read anyth… Read More
cwj3820 Avatar
6m, 3w agoPosted 6 months, 3 weeks ago
Can anybody tell me if applying for a mortgage and you are self employed what do they require in respect of paperwork to prove earnings and how far back does that paperwork have to go. Have read anything from 12 to 24 months but can't see anything definite
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cwj3820 Avatar
6m, 3w agoPosted 6 months, 3 weeks ago
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#1
i tried and it goes off your books gross profit i think for 3 years
#2
Dont know how far back they go but the info on here might help.

Affording a mortgage
#3
I needed 3 years books. But the target amount was 2 grand short and 3 lenders would not help. The only way I got a mortgage was doing a tradesman job for a mortgage advisor. That changed my life forever as up until that point I had no chance of borrowing money. Still to this day I can't get a loan because I'm self employed. I so really on credit cards for cash if needed. Nightmare. Wish you well though.
#4
lloyds bank ask for last three years.
#5
2 years with barclays for mine, director of ltd company
#6
Thank you very much happy new year to you all
#7
I tried to remortgage to get better rate. I'm self employment for 1 and a half years. despite being on almost 3 times the money from when I took out my mortgage on PAYE, no one at all was interested. barclays seem to ask for the shortest amount of books, 2 years
#8
I tried to remortgage to get better rate. I'm self employment for 1 and a half years. despite being on almost 3 times the money from when I took out my mortgage on PAYE, no one at all was interested. barclays seem to ask for the shortest amount of books, 2 years
#9
i was self employed for 1 year and went with a broker to secure a mortgage. i think they are called contractor mortgages. google them.
#10
I don't know what it's like now, maybe different but when I went for a mortage I had the option of a earnings based mortage or non-earning based. That maybe have only applied to a joint mortage where one was employed and the other self-employed. I would suggest you go to a mortage advisor rather then a bank, make sure it "whole market". The person who setup ours many years ago arranged a good one and all we had to do was meet the bank manager arranging it. Kind of saved our life because we were in a real bind thanks to Thatcher's Tory goverment.
#11
If you go through a mortgage broker they put your details forward to select lenders on the basis of being able to prove you're able to be contracting/self employed for the foreseeable future. You can use online/phone brokers such as the one manuelw suggested, ask your accountant to recommend someone, or visit high street brokers such as Countrywide.

They usually only ask for last 3 months finances, but will take a fee for their time. They should explain when you talk to them.
#12
rajeee3
If you go through a mortgage broker they put your details forward to select lenders on the basis of being able to prove you're able to be contracting/self employed for the foreseeable future. You can use online/phone brokers such as the one manuelw suggested, ask your accountant to recommend someone, or visit high street brokers such as Countrywide.

They usually only ask for last 3 months finances, but will take a fee for their time. They should explain when you talk to them.


Thanks for that

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