Mortgages For The Self-Employed with just 1 Years Accounts
FREQUENTLY ASKED QUESTIONS
Q) Can I get A Mortgage with just 1 Years Accounts?
Although most lenders in the UK Mortgage Market will require at least 2 years trading history and either Signed Accounts or Tax Calcualtions to porve your income, there are a number of lenders that will acept ust 1 Years trading.
Q) What do the lenders want to see for proof of my earnings?
This will depend on whether you are a Sole Trader or Director of Lmited Company.
Q) What Income do the Lenders Take?
If you are a Sole Trader then the lender will take your Net Profit. Thats the income after deducting allowable expenses. This is the part used to determine how much tax you will pay.
Q) How Much Deposit Will I need?
In the current Market the lenders will want you to have at least a 15% deposit to be considered for a mortgage with just 1 years trading history.
Q) What are the costs and fee's involved?
When buying or remortgaging a home there will be a number of costs involved. We wouod go through the specicifc costs and charginges individually as they can vary.
If you have any other questions about getting a mortgage then please use the contact form at the top of this page or click the button below and we will be happy to assist
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