Self-employed person looking for small mortgage

debbiermcd

Hi,

Wondering if anybody can advise which bank is the best option for a self-employed person who needs a small mortgage (150k) but has had problems with credit in the past - late payments, renegotiated payments, etc re redundancy. No judgements, just extended loans and ultimately more interest!

Due to a lucky windfall we're now in the position to look for a house and have 50-60% of purchase price in the area we'd hope to live. And although prices are still unpredictable in the area we hope to live houses are selling, in some cases quite quickly too.

As we're just over a year in self-employment we don't have the 2-3 years financial records that seem to have been the requirements in the past. We would also plan on leaving a sum aside from home as a back-up in the event there are problems with finances going forward.

Any advice would be very welcome.

Thanks, D.

SEPT 23 1989

I dont think you have a hope in the current climate

Self employed (which i am also) are the last people they will lend to now

Liam D Ferguson

With only one year's track record of self-employment and an imperfect credit history, I'm afraid you won't get a mortgage at the moment.

debbiermcd

Kind of what I thought but had to ask in case there was some way around it, looks like we'll be renting for a few years yet then!

Appreciate the replies.