Any experience would be really useful. DD and her partner had a mortgage agreed, but he has recently changed job status to self-employed, which has affected the mortgage offer. Any ideas for a specialist mortgage?
From my experience mortgage companies like to see two yrs of books before they'll give you one. Personally I would have held off becoming self employed till after the mortgage was set up and house purchased.
Best bet is to get an independent mortgage advisor to look into it for them.
I'm self employed but had 3 yrs of steady books. My DH who earns 2-3 times what I do and earned hundreds of k for years before we bought was of no use on the mortgage having gone self employed the year before and we had to leave him off it and go with what they'd give me alone.
The 2 years of income thing holds, regardless, but Trussell is an online broker that does a lot of work with people in special circumstances. We've just used them for ours and they're pretty painless - despite being online, you deal with an actual human being for much of the process, only you don't have to wait 2 weeks for them to ge t back off their holidays!
We had this problem. We didn’t have three years of books when we got our last mortgage. We used a mortgage advisor called Andy Maher from Maher Brownsword who got us a decent mortgage when we’d been told we’d struggle. He did it all on the phone for us. I think he was recommended here actually. He was great. I think we had to pay a few hundred quid but it was worth it in the grand scheme of things.
We also had this problem but managed to get a mortgage with me being self employed for less than 2 years. They did need last 3 years of business accounts though. We used amortgagenow - an online company specialising in mortgages for legal, medical and business professionals. Nothing was too much trouble and I recommended to a friend later who also praised them.
I had to supply three years' worth of tax overviews and SA302 forms from HMRC to secure our new mortgage. I understand Santander are the best high street lender for the self-employed but I went through a broker who basically handled everything and saved us a whole heap of stress.
We are getting a mortgage on our house and using that to help DD as she is self employed. Just started so no track record but she’s got plenty of earning potential so hopefully she will get a mortgage eventually and we will repay our loan. It’s complicated isn’t it?