As per title, just started out on my own now. Been going well since being made redundant at Christmas. Its time to renew the mortgage so without a track record in business, any tips or help would be appreciated. How easy is it to find someone to take this on? Is there a best bank or Building Society for this?
Its all new to me.
Thanks
YOU need to show proof of earnings over a period of time this may be a problem if you have only just gone self employed.Have you ongoing contracts to show future earnings?
Been ticking over at 3-4k per month and have stuff booked in so far until september..... but its early days at the moment...
You need 3 years of books to show if you are self employed to re mortgage, unless you have a good finance adviser who will pull some string for you, your best option would have been to change your mortgage before you went self employed, Best of luck with the new venture though, it will be the best thing you do becoming your own boss,if all is going well you can ride your bike at any time and not have anyone breathing down your neck about doing the job.
I've always been self-employed and getting a mortage has proved difficult in the past. When I asked for more money for an extension(more than the original mortage) they were virtually throwing money at me(want another 10 grand?) Things have changed,money is tighter,but there are people that specialise in helping the self-employed.
Glad things are going well
Show any contracts or advanced orders.
Also worth going to your business bank for advice
Its not a good time to look for a change, what percentage/fees have you been offered with your current provider?
Have an interest only fixed rate on hold with NatWest... on hold as I am waiting for a Building Completion ticket after doubling the size of our house and mortgage 6 months before being made redundant...
Arranged this fixed rate whilst still employed but the bank have acknowledged I was miss sold and are offering a refund if I cant get the certification...... hence the need to look at options.
Its a complicated one, thanks for your help...
Mate. You'll be lucky. Getting a mortgage without 3 years books has always been difficult but self cert used to be an option. It isn't now.
If you're a contractor/freelancer you might have some options. Google freelancer financials or contractor mortgages. You might get something with them. Otherwise you might need to suck it up until you have proof of income.
Sorry but these are the facts.
rickmeister - You won't get one from any of the normal sources as all lenders are asking for at least 1 years accounts/tax returns, most need to see at least 2 years.
As for a mortgage advisor "pulling some strings" thats called fraud, there never has been such a thing, its just a dodgy advisors way of saying your going to lie to the lender.
Take the current offer or see what your current lender will offer you. Either that or stay on standard variable rate and hope it doesn't go too high before you are able to remortgage.
E-mail is in my profile if you want some official advice without this lot knowing the details ?
Cheers
BigSi
Independent Mortgage Advisor 
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