Nightmare mortgage situation
Discussion
Hi.
Here is a bit of back ground info on my self;
I am self employed and have been since Nov 2012, until last August I was a sole trader and I have three years SA302 to show for that.
I am now a LTD company and will have my end of year account at the end of August and a projection (99% accurate) as of tomorrow.
Last month I arranged a mortgage with Yorkshire building society and it was approved along with my girlfriend who is in full time employment, they said they would use my last three years SA302 for the mortgage and next step was to put an offer in as I have my mortgage in principal.
Fast forward until today when I have put a mortgage offer in on a property and been accepted, I ring Yorkshire up to get the ball rolling and was told I am out of there criteria and it has to be checked by an underwriter once I submit my projection figures. To say I am P1ssed off is an understatement, before this they were easy going and told me everything is going as planned.
Is there any members on here who can point me in the direction of a company who will take three years SA302 and a projection which will be 99% accurate as my first years account get filed on the 31st August.
The business is still the same line of work, literally no change other than I have to go LTD.
A mortgage advisor would be great however putting a 10% deposit down plus all other fees I dont have much left!
Thanks in advance
Here is a bit of back ground info on my self;
I am self employed and have been since Nov 2012, until last August I was a sole trader and I have three years SA302 to show for that.
I am now a LTD company and will have my end of year account at the end of August and a projection (99% accurate) as of tomorrow.
Last month I arranged a mortgage with Yorkshire building society and it was approved along with my girlfriend who is in full time employment, they said they would use my last three years SA302 for the mortgage and next step was to put an offer in as I have my mortgage in principal.
Fast forward until today when I have put a mortgage offer in on a property and been accepted, I ring Yorkshire up to get the ball rolling and was told I am out of there criteria and it has to be checked by an underwriter once I submit my projection figures. To say I am P1ssed off is an understatement, before this they were easy going and told me everything is going as planned.
Is there any members on here who can point me in the direction of a company who will take three years SA302 and a projection which will be 99% accurate as my first years account get filed on the 31st August.
The business is still the same line of work, literally no change other than I have to go LTD.
A mortgage advisor would be great however putting a 10% deposit down plus all other fees I dont have much left!
Thanks in advance
My accountant cant file this years returns until the 31st August unfortunately.
Application is virtually the same, LTV is the same. The only difference is we want to borrow more than the initial mortgage in principal but still well within the limit they will offer.
I will contact Sarnie, thanks every one
Application is virtually the same, LTV is the same. The only difference is we want to borrow more than the initial mortgage in principal but still well within the limit they will offer.
I will contact Sarnie, thanks every one
The problem they have is the LTD company isn't a year old just yet. Even though I have 3 years SA302's it will have to be looked at. The company hasn't changed since starting, still the same trade but better figures each year.
Basically my next step is to give them my figure so far for the LTD company accounts and then perform a credit check which will be referred then closely looked at.
My other worry is that it's declined and then I have to start again and do more credit checks!
Basically my next step is to give them my figure so far for the LTD company accounts and then perform a credit check which will be referred then closely looked at.
My other worry is that it's declined and then I have to start again and do more credit checks!
Thanks again for the replies.
When I initially spoke to Yorkshire they were just going to use my three years SA302, until speaking to them yesterday and they actually admitted there advisor had made a mistake and should not have done that. Very frustrating.
I kind of have a feeling that I wont be accepted from them and I am thinking is it worth doing another credit check which I know will be referred and that have to start off else where again.
Sarnie - Have you seen any cases like this, do you think I realistically can get a mortgage from somewhere?
When I initially spoke to Yorkshire they were just going to use my three years SA302, until speaking to them yesterday and they actually admitted there advisor had made a mistake and should not have done that. Very frustrating.
I kind of have a feeling that I wont be accepted from them and I am thinking is it worth doing another credit check which I know will be referred and that have to start off else where again.
Sarnie - Have you seen any cases like this, do you think I realistically can get a mortgage from somewhere?
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