Discussion
Sorry if this has already been covered but we are hoping to apply for a mortgage but there's a slight snag.
My girlfriend was made a partner at her vet practice last year and has been told by the mortgage company that she needs to show 2 years of accounts before they will consider our application. If that is the case then we will have to wait until the 2016/17 accounts are in before we can proceed.
She was told that up until a few years ago the mortgage company would have been able to consider past accounts as the business has been established for 30 years. Now though things have been tightened up and the accounts shown have to reflect her time as partner.
Can anyone with more experience in this field confirm whether this is the case universally, or are there lenders out there who have different criteria.
Thanks!
My girlfriend was made a partner at her vet practice last year and has been told by the mortgage company that she needs to show 2 years of accounts before they will consider our application. If that is the case then we will have to wait until the 2016/17 accounts are in before we can proceed.
She was told that up until a few years ago the mortgage company would have been able to consider past accounts as the business has been established for 30 years. Now though things have been tightened up and the accounts shown have to reflect her time as partner.
Can anyone with more experience in this field confirm whether this is the case universally, or are there lenders out there who have different criteria.
Thanks!
Sarnie said:
Are the 2015-16 accounts done?
If so, then you have a chance with a small number of lenders, but most will default to the "we require two years self-employed income details before we can consider you"..............
Yeah, the 2015/16 accounts came back a week or two ago. I think we need to speak to a broker or even Bovis homes, who we are hoping to buy from, to see what options there are. I dont want to get my hopes up too much in case the two year thing is a universally observed policy.If so, then you have a chance with a small number of lenders, but most will default to the "we require two years self-employed income details before we can consider you"..............
I don't really care if people rate the service they have been given or not. If you have a problem then you need to take it up directly with the person involved, in private. Arguing the toss on a public forum casts nobody in a favourable light. I started this thread to ask for some help and advice. I think that it has deviated far from that and had probably run its course. Thanks to those that contributed helpful advice.
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