Self employment and mortages!!!!

[hamdogg]

Has anyone else had a nightmare trying to get a mortage while self employed!! I'm having a nightmare!! It's as if we get penalised for trying to get in in life!!

[walkerboys]

They would prefer you to stack selves in asda on full time employment earning £200 a week like I said to my mortgage women if your self employed your keen to work and want to make money I've never been out of work but they don't see it like that!

[Adam Bourne]

From experience they believe the self employed to be a liability! I'm a sub contract climber or as they see it the middle man.. Once work is low and your struggling to keep you own guys going then the first to go is the man in the middle! Although I have had a great 3 year period of nearly 6 years self-employment I do get slack periods! And this is what they don't like!! I was lucky enough to get my house when I was employed but having gone self employed I had to state that to my mortgage provider. They didn't like that one bit and had several advantages like payment holidays taken away from me! It's all wrong in my eyes. But as it stands at the moment I'm still on the verge of loosing the house! Although not through lack of work... Good luck in trying mate and don't give up..

 

 

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[ArthurBottlesworth]

Yeah

When I went to college in 70's local gov't numpties were getting full salary whilst students, we were bumming alng on pennies

 

Someone said " don't worry the pendulum will swing the

other way " still waiting as I get to retirement

 

Stupid thing was that local gov't drones couldn't qualify because they didn't have enough experience

 

During time more and more numpties have jumped on gov't emplyment bandwagon and now the worldis geared up for them.....

 

Problem is they don'to anything --- but theysew everything up

 

Doesn't solve your problem but gets rant off my chest

 

JUST A THOUGHT

 

Have you got mate who can employ you whilst you getyour martgage? Day after he can sack you and you get back to real life.......I did summat like this for someone few yeasago

[hamdogg]

Yeah

When I went to college in 70's local gov't numpties were getting full salary whilst students, we were bumming alng on pennies

 

Someone said " don't worry the pendulum will swing the

other way " still waiting as I get to retirement

 

Stupid thing was that local gov't drones couldn't qualify because they didn't have enough experience

 

During time more and more numpties have jumped on gov't emplyment bandwagon and now the worldis geared up for them.....

 

Problem is they don'to anything --- but theysew everything up

 

Doesn't solve your problem but gets rant off my chest

 

JUST A THOUGHT

 

Have you got mate who can employ you whilst you getyour martgage? Day after he can sack you and you get back to real life.......I did summat like this for someone few yeasago

 

 

Yeah I've considered doing this!!

[Steve Bullman]

How long have you been self employed for?

[Steve Bullman]

One major problem is that most self employed do everything they can to keep their tax liability down each year.....this doesn't help mortgage prospects

[hamdogg]

I've just done my second year

[Rich Rule]

I am tryin to remortgage at the moment. Dont get me started on the hassles I had 4 years ago getting in the first place!

 

So in effect we are trying to remortgage to draw a small amount of money out of the property. Loan to equity ratio has dropped dramatically due to buying cheap and being in a boom area in South East London. All in all, the payments would reduce by 90 pound per month and they still declined it. But they are happy to keep us on the same deal and surely the same risks.

 

Madness!!!

[Steve Bullman]

I've just done my second year

 

You have little hope then with just 2 years of books behind you. I think they require a minimum of 3 or 4?