Income of approx 13k, including tax credits, two adults, one 2 yo = council tax credit of 76p per week..............

[lucyellensmum]

That can't be right surely..............., maybe it is.

i know a couple with two toddlers who run a business and i just wonder how on earth they own their own home if neither of them are in full time employment (steady income). it's supposed to be hard to get a mortgage if you are self employed?? i'm sure they make up for it in tax credits though. good for you trying to make things work from home though, i admire people trying to do that.

aha, so you can't get housing benefit if you have a mortgage. didn't realise that. thought the govt would help out with mortgage payments when you are on a low income/setting up business.

No, because they would be effectively buying your house for you. I think you can apply for emergency payments if you are risking losing your home.

wow, i'm curious as to how those self employed who hardly earn £2k a year manage to pay a mortgage then. they surely must make it up on tax credits??? in an ideal world we would love to just try setting up a business but we wouldn't be able to afford all the things we enjoy doing as a family. it's too much of a risk.

007 it is harder if you are self-employed but DP was not self employed when we bought the house 15 years ago. We blatantly coudlnt afford it then though and the banks still lent. Interestingly, when we hit rock bottom and had to remortgage twice in one year, they were happy to "believe" that our income was that of 40k without asking for proof, just because of the equity in the property We never would have dreamed of lying but we were desperate - big mistake, i realise that now

so what if you move house (downsize) when you are self employed and get a mortgage, how can you possibly have proof of income? just going by another scenario I know of. a few friends as me how they do it and we honestly have no idea.they had only just set up business so how can you prove your income if you are moving house?

sorry to hear of your situation lucellensmum, that's pretty bad. do you think many couple manage by remortgaging, and that's how they can cope when they are self employed? i just wouldn't want to struggle like that.
think things have tightened up now so it's harder to get a mortgage no matter what your situation is really.

scottishmummy, my DP has been "self employed" for quite a few years now, it is like that in the building trade, it simply is a different way of tax paying under those circumstances. If you are self employed and applying for a mortgage you will have to provide your accounts for the past two years. Not quite sure how we didnt have to do that before, but that was because we were extending the terms of the mortgage etc.

2k a year and a mortgage??? aint gonna happen!

I would imagine that things would be alot tougher to get a mortgage now mind.

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