Self Employed Audited accounts for Mortage approval

englishe

Hi there - would like to get some clarification on something, as was left confused by bank mortgage advisor....for the last 5 years I have been registered self-employed (sole trader)...not making millions or anything like that, but until last year paid an accountant (€300+ each year) to draft up my Income & Expenditure and organise my tax payment. I did my own pay & file Oct 2008, as advised by people who were surprised I was paying these fees to an accountant when it was so easy to it myself.
Enquired about mortgage approval today, and was told I need 3 years Audited certified accounts... My question I guess is, do self-employed people who do their own annual Pay & File, then have to fork out another €300 - €500 to get an accountant to certify the details you provided to the Revenue? Plus €180+ for an A4 letter with 2 lines which confirms your projected income for the current year? i.e. hand out nearly €700 just to apply for mortgage approval, when PAYE just have to present a P60 to prove their income?...Has anyone else been in similar situation and are there ways to avoid the above mentioned expenses?
Any advice would be greatfully appreciated.

phormium

I have come across this before when dealing with people applying for mortgages, cant speak for all banks but the one I deal with would accept revenue balancing statements as proof of income in this case.