How easy is it to get a mortgage as a sole trader? I have 4 years of accounts prepared by my accountant. No limited company. This was to work out my income tax. There is a house I have my eye on. Will I get a mortgage?
I remortgaged after sole trading for a couple of years. Not an issue, no accountant or anything.
Phil
In message , snipped-for-privacy@hotmail.com writes
You will have no problems getting a loan at all. You may not the amount you want though. Find an independent broker who has sufficient knowledge to be able to interpret your accounts in the same way a lender would. I only know of a handful who can do this.
BTW, since a few weeks ago a mortgage broker can only describe themselves as 'independent' if the offer you the chance to pay by fee only AND offer mortgages form the whole of the market.
Many old 'independents' now only offer a range of products that represent the market.
In message , snipped-for-privacy@hotmail.com writes
Being a sole trader is not a reason not to get a mortgage.
Most lenders want 3 years accounts.
How much is the house? How much do you need to borrow?
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