I'm currently looking into getting a mortgage as a sole trader with backing from my father. I'm only registered since last November so my overall earnings will only account for three months. My father however owns a number of properties and has a sizeable income. He is retired but works a full time job. The plan would be to buy a 2-3 bedroom apartment and for me to rent the remaining rooms. The first bank I went to stopped short of calling me a fool. While I could deffinately afford repayments, and would have at least 11% (with a possibility of 15%) of what I was asking I'm now begining to doubt I stand a chance. Should I drop the whole idea and wait two/three years until I have decent audited accounts?
Regards,
Wheels
Regards,
Wheels