Mortgage for the selfemployed

[goldenpeach]

Despite being on financial consultant number two, it seems that conditions have worsened for the self employed. Unfortunately our income has gone down in recent years and although we are asking for a 'small' mortgage and forking out the rest in cash (equity from sale of previous house), we are having no luck.

So far only Woolich would lend us some money but not the full amount.

[goldenpeach]

Just to say that I got my mortgage by going to a lender I had a mortgage with. After four brokers telling me it won't happen and I needed to have my accounts seen by an accountant it was a big relief.

[Fiddledee]

Have you gone to mortgage brokers, there are some specialist ones for the self-employed you need to dig around.

[lalalonglegs]

I've always found London & Country very helpful - I'm s/e and was recently thinking of taking out a mortgage (long story, changed mind) but the broker there that I dealt with there didn't think it would be an insurmountable problem if I had verified accounts etc.

[goldenpeach]

Halifax offered us the mortgage, after trying four if not five brokers it was a relief.

I posted this in the self employed forum too, and just to recap here, the problem was that the broker's commission was not worth their efforts as it's a low mortgage.

The bank clearly thinks so. Between the two of us we had two mortgages already with Halifax so they were quite helpful and offered more than we expected (still not much though and useless if we didn't have equity).

No need to verify the accounts either! Let's hope we get the house...

[Thandeka]

I also reccomend london and county - they are great with advice and have spent hours with them hunting for me- only to not go with them in the end as we managed to find a property that we could be mortage free in- so defo worth a punt....

Ask to speak to Graham Taylor- he's lovely!