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Which banks lending to self employed?

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  • 21-05-2010 9:30am
    #1
    monkstowngirl
    Registered Users Posts: 20 ✭


    Hi everyone,
    We have applied to 2 banks to get a mortgage and everything ( apart from the fact that I am only 6 months self-employed) is fine with our application.
    We have substantial savings, no loans, etc, etc..

    Just being a bit nosy and wondering if anyone with less than 2 years self-emplyment has gotten a mortgage recently.

    Would really appreciate some help,

    Thanks:)


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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    if your self employed for less than 2 years forget about it. The only group that would consider lending you money would be sub prime lenders (STEER CLEAR) outside of that you havent a prayer im afraid


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    #3
    Dymo
    Registered Users Posts: 1,561 ✭✭✭Dymo


    D3PO wrote: »
    if your self employed for less than 2 years forget about it. The only group that would consider lending you money would be sub prime lenders (STEER CLEAR) outside of that you havent a prayer im afraid

    Have to agree with D3PO, being self employed in the current climate is a bad bet, banks will run a mile. Unless you can prove profitable books for a couple of years.


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    #4
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    D3PO wrote: »
    The only group that would consider lending you money would be sub prime lenders (STEER CLEAR)
    Agreed. Subprime lenders usually charge a VERY high rate, leaving most people only €100 left to live on a month, which you don't want, as you'll need to buy stuff for your business.


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    #5
    monkstowngirl
    Registered Users Posts: 20 ✭monkstowngirl


    Thanks guys for answering. Definetly not going near a subprime lender as some of my friends got burned..will just have to wait another year and half I supppose!
    :rolleyes:


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