Freelance and mortgages

[likessleep]

I am starting up in March 2009. DH and I are also thinking of moving in a year or so (housing market troubles aside).
However, we need to count my income for our mortgage, as my DH wage won't cover it. Has anyone done this? I guess we will need a years accounts? Does this mean we would not be able to move until March 2010?
Thanks for reading.

I think and may well be wrong, but I think you need 3 years accounts for a mortgage.

if i'm wrong, consider this a friendly bump

I think it is 2 years accounts actually
May depend on the mortgage co.

It may well depend on the type of business tbh. It does also take time to draw up accounts and get them audited/certified.

The mortgage lender I work for requires 3 years of accounts for new borrowers. We only do self-cert mortgages for existing borrowers now. You may still find some lenders doing self cert mortgages but there are far fewer than these days.

oh no, that is very disappointing.
i might ring our mortgage company and speak to them hypothetically.
annoying thing is that we are looking to reduce mortgage anyway with this move. we will also not be having childcare costs any more as nearer to family.
thanks so much for responding, i'll look into it.

DH had been self-employed for two years when we first got a mortgage. The lender accepted two years' audited accounts plus a letter from his accountant with a projection of earnings for year three.

It will vary from lender to lender -- we found Nationwide very willing to lend to us (they offered up to 4x income) though other lenders were more cautious. And this was in 2004, these days I wouldn't count on it being so easy...

it is nationwide we are with.
i just called them and explained scenario. the advisor said that 6 months - 1 year of bank statements under our belts, we should be fine. if it was just a month or so, then they have no proof that it is regular work. but she didn't think it would be a problem with 6 months+ of 'proof'.
i think we'll see where we are this time next year. i really hope we can get something, as we are moving to try to reduce mortgage/our outgoings each month anyway.