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Getting mortgage for new homes

Hello, Am just wondering if we can get a mortgage for new home in moston,manchester. I am a student nurse in my final year.I work part time as care assistant as well. My husband is self employed.

Asked on Jan 27 2014, New Homes in Manchester | Report content

Answers (1)

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  • Hi adetutu, When it comes to getting a mortgage, the key consideration that any provider will be looking to tick boxes on is with regards to your income. If you are in a steady and permanent job making enough to repay your mortgage, they will be more than happy to lend to you. However, there are problems that can crop up when you are either part time of self-employed, which is obviously an issue for yourself and your partner. Don't worry though, it's not the end of the world, and there are still ways around these restrictions that will see you able to get approval for your mortgage. One of the key factors will be the length of time your partner has been self employed. Although mortgage providers are now less strict than they have been in recent years, most will seek out three years of tax returns to prove that a self-run business is viable and long term, and not likely to leave the mortgage holder with an inability to pay back their loan in the long term. Your best options are to have taxes and profits for the company analysed by a certified accountant so you can go to the mortgage provider with proof set in stone that you, as partners, will be able to pay back the mortgage over the duration of the terms. You'd also do well to seek out specialist providers who deal with these sorts of mortgages more often, and make sure your partner is well prepared for answering a lot of questions about their business so the bank can satisfy all of their conditions and tick all the boxes to establish a "real income". Many thanks, Scott

    Answered on Jan 30 2014, Report content

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