Newly self-employed mortgage application - help!

Discussion in 'Mortgages and buying and selling homes' started by sjapok, 11 Feb 2019.

  1. sjapok

    sjapok Registered User

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    21
    I'm an actuary with 10 years experience. Most recently I was a self-employed contractor (director of a ltd company) from 2011 to 2015, full time from 2015 to 2017 and limited company again (a different one) from Jan 2018 to present.

    I'm highly employable and earn a very nice salary but I've been turned down by the major mortgage lenders as I only have one years accounts with my new limited company. They won't take into account any of my historic roles/salaries. They'll lend on the back of my wife's modest salary but that's it.

    What can I do? I only need 2 or 2.5x my income and I have a 20-30 % deposit depending on the house. I'm literally the best risk a mortgage book could possibly acquire.
     
  2. RedOnion

    RedOnion Frequent Poster

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    2,317
    Are you truly self employed, or are you a day rate contractor with a single client?

    Very different treatment.
     
  3. sjapok

    sjapok Registered User

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    21
    Sorry daily rate contractor with single client.
     
  4. RedOnion

    RedOnion Frequent Poster

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    2,317
    I rarely say this, but talk to a broker.
    If you have a contract with your client it should be possible.
    It'd be a little easier if you were contracting through an umbrella company rather than your own ltd co., but should be possible.
     
  5. sjapok

    sjapok Registered User

    Posts:
    21
    Thanks RedOnion, would anyone know of a specific broker that they have previously used and would recommend? Or is that type of advice against forum rules?