I am self employed and need a mortgage

[markm]

I have been using one bank acc for lodging any moneys i earn.
I have tax clearance
I also have a set off 12months accounts.
I do own half a house ive inherited and would like to buy the other half.
I am a first time buyer.
But i do not have a business bank account.
Will this lack of a business account affect me getting a mortgage for half the value of the house
from Ebs or the likes ?
Any advice i can get would be really appreciated
Thanks

 

[NorfBank]

The lack of business accounts will not prevent you from getting a mortgage, the fact you have just one years accounts will.
You will need at least 2 years accounts so in the meantime open a business bank account and you will be good to go in 12 months.

www.moneybackmortgages.ie

 

[donee]

what Norfbank is to polite to say is that as a self employed person in todays climate in this country you have absoutely NO chance

 

[calvin&hobbs]

thats real nice donee, real nice.

best thing to do is to get all your paperwork together, apply and see what happens. depending on where you are, how much you earn and the house value, you never know.
you dont ask you dont get.
I never thought id get approved for anything but i sent in the forms for my mortgage, got approved and bought my first house in december.

 

[Pat Bateman]

I do own half a house ive inherited and would like to buy the other half.

what Norfbank is to polite to say is that as a self employed person in todays climate in this country you have absoutely NO chance

Markm, would the person(s) who own the other half of the property consider some form of stage payment plan?

I wouldn't share Donee's pesimism. The fact that you already own 50% of the property should work in your favour. I suggest you speak with your own bank first before contacting other mortgage providers. A letter from your accountant stating that your affairs are up to date might be useful.

 

[markm]

Cheers people thanks for your frank and informative replies. Reckon i have enough info now ive made my decision now. Loving your optimism Calvin. Cheers Pat.