Self employment and mortages!!!!

[ArthurBottlesworth]

Three accountants were interviewed for a job

 

No 1:- question whats 2+2

Answer 4

 

No2:- whats 2+2

Answer 22

 

No3:- whats 2+2

Answer :- what do you want it to be ?

CONGRATULATIONS YOU GOT THE JOB

 

And this explains much of our banking system financial situation today.....

[Arran Turner]

All really interesting I always new it was a pain to get a mortgage as self employed. I am looking at getting on the ladder in the next 4 years. Anyone know what happens if you have been working in different countries? In and out of the EU ?

 

Reading this looks like I might have to wait a bit longer and have settled down first for a few years before buying a house...

[aspenarb]

PAYE on a relevant tax code +being on the electoral role+ decent deposit + a good credit history + money in the bank + showing regular savings + finding a decent up together property = a sure fire mortgage.

 

Not rocket science but you need to tick these boxes because they have loads of applicants that do so why lend to those that dont. Also a big mistake going to one lender because once you are refused a mortgage that counts as a minus on the next application. It has to be a broker, he will be in a position to pull the application if its not going well.

 

Bob

[ArthurBottlesworth]

PAYE on a relevant tax code +being on the electoral role+ decent deposit + a good credit history + money in the bank + showing regular savings + finding a decent up together property = a sure fire mortgage.

 

 

Spot on

You just have to TICK THE BOXES

Work out what they want , and give it to them ... Box by box - and if you can't tick a box, work out some way of doing it --- if your self employed Set up ltd co and put yourself on PAYE, ETC ETC

 

Remember their business is selling mortgages -

[martwizz]

Personally I don't see a need to amend your books, the bank should look at the figures before depreciation on equipement.

 

 

That's exactly what I said, but they don't. They just look at the bottom line - your taxable income. I said that changing what I claimed doesn't change what I earned, but they got me to do it anyway. It made them happy.

 

It's a stupid system.

[theflyingscotsman]

Hamdogg go to an insurance broker.. Lots of them out there. Give them your details (and the stress) a good one will be able to sort you out!

 

Good luck

[eldon]

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!!!

 

So the outcome doing it your way would mean lower interest payments for them.

Thinking this way maybe now you can see the reluctance to comply with your wishes. They (mortgage providers) are just parasites!

[hamdogg]

Hamdogg go to an insurance broker.. Lots of them out there. Give them your details (and the stress) a good one will be able to sort you out!

 

Good luck

 

 

Why would an insurance broker be able to sort a mortage out though?? Confused lol

[theflyingscotsman]

Haha sorry a Mortgage broker!!

[hamdogg]

Yeah that's what I'm doing, I think they also charge who they get the mortage from?