self employed one year - chances of a mortage?

[michael1987]

Hi,

Been looking online at mortages at most seem to say either two or three years accounts....is there any way around this? I live in Northern Ireland if that helps.

Also done the "how much can i borrow" calculators and I can well afford what I am looking at. My girlfriend is in full time employment and we're buying a house together so would this help?

Thanks
Michael

[Sarnie]

michael1987 said:

Hi,

Been looking online at mortages at most seem to say either two or three years accounts....is there any way around this? I live in Northern Ireland if that helps.

Also done the "how much can i borrow" calculators and I can well afford what I am looking at. My girlfriend is in full time employment and we're buying a house together so would this help?

Thanks
Michael

You'd need to provide more information such as;

How much deposit do you have?
What are your net profits for the first year?
What value property will you be looking at?
What income figures does your girlfriend have?

PM me if you don't want to post it here

[michael1987]

I've done the online calculators via Halifax, nationwide etc.... For the value of property and 90% LTV, but my main concern is will only being self employed one year make life difficult (one year trading complete on 1st July)

Basically just curious as to where I stand before going to a local mortgage broker (used him before for a few BTL I have)

[Sarnie]

No problem, I offered!

[Guvernator]

I had to go through this recently and most of the big lenders have strict 2 year policies I'm afraid. The only big lender who seemed to be able to waive this was Halifax so guess who I got my mortgage from.

[michael1987]

Turns out it's two years accounts and a third year projection.

With regards to Halifax I already have my limit with the "Halifax group" mortgages with various BTL's I have so have to rule that out!!

Just have to wait until next year, means more saving and hopefully a better house, so maybe a blessing in disguise

[Sarnie]

michael1987 said:

Turns out it's two years accounts and a third year projection.

With regards to Halifax I already have my limit with the "Halifax group" mortgages with various BTL's I have so have to rule that out!!

Just have to wait until next year, means more saving and hopefully a better house, so maybe a blessing in disguise

You can get a mortgage with one years accounts........

[MPWRS62]

Is it possible to get a mortgage for a Buy To Let with just one year of accounts ?

[Sarnie]

MPWRS62 said:

Is it possible to get a mortgage for a Buy To Let with just one year of accounts ?

Yes.