Getting a mortgage being a director for just over a year??

[rich89]

Hi,
I am looking to get a mortgage for an apartment (joint) but i have only been a director for just over a year and was a sole trader previous to that for again just over a year.

What are the chances of me getting a mortgage with only having one years worth of accounts for being a director?

Thanks

[worsy]

My bank were not interested in my previous perm employment and wanted 3 years accounts, however I would have thought they would accept your sole trader accounts as long as the business is not different.

[scotal]

rich89 said:

Hi,What are the chances of me getting a mortgage with only having one years worth of accounts for being a director?

Thanks

Slim.
There is one lender who will look at a single years accounts, however they take 3 years into account to calculate income.

You might get away with it if your sole trader accounts and your ltd co were all doing the same thing, but you would be extremely lucky, I know of at least one major lender who won't look at this scenario. How close is your other half's income to supporting the loan?

Who do oyu bank with? (business and personal accounts at the same bank?)