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Should I set up a business while applying for mortgage?

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  • 29-07-2020 2:19pm
    #1
    CalhounAgnes
    Registered Users Posts: 8 ✭


    Hi, I am a PAYE worker with a full time job and should have no problem getting a mortgage with my fiance.

    Recently I have a found a niche in selling specific art posters which has potential to bring in ~€100-€200 profit a week. If I go and set up this side project with Revenue while still keeping my 9-5 job, will this side project prevent us from getting approved. I mean would this new side venture negatively affect our chances or should we wait until after mortgage approval? This would mean losing out on business in the meantime.


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    #2
    awec
    Administrators Posts: 53,800 Admin ✭✭✭✭✭awec


    It should have no negative impact once you keep your PAYE job, unless you're spending a tonne of your own money to get the business up and running and ongoing costs are high.

    It probably won't have any beneficial impact either.


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