Mortgage when self employed???

[ElizabethDarcy]

Hi everyone,

We got a mortgage years ago with relative ease... couldn't get a big one as we live in a stupidly expensive area. Anyway, we then looked to move and all went well till we were gazumped.. and had to rent in a hurry... had 5 days to find a place :( Was terribly stressful.

We have been very happy where we are... and it's a lot nicer than we could ever afford too... have been looking to buy again and now, with me being self employed now (was employed before with previous mortgage)... we are having such difficulty getting a near half decent mortgage... I am so stressed about it. I earn well enough when looking at gross, but my net is much lower naturally, as we are able to claim for so much stuff (am a childminder).

So... do any of you have any person/advice on a bank that specialises with a self employed mortgage perhaps? I'd really appreciate it.

Thank you.

There are companies that offer mortgages to the self-employed. An independent financial or mortgage adviser may be able to steer you through.

You should be ok with most banks as long as you can show your accounts. We remortgaged recently with HSBC and didn't have a problem at all but DH had to show company accounts

Thank you... we have spoken to our mortgage advisor and he was the one who shocked us so. We used him last time, but we were both employed then. I have since started a business.

We are with HSBC.. will be checking with them too.. that is encouraging x

Nowadays you need three years accounts signed off by a CCAB or equivalent accountant
and they used to automatically take halfway between gross and net as your true income but I think they are more cautious now
and you'll probably be forced to go repayment
and need a big deposit
mortages are getting harder to get every week