Can you remortgage if you’re self-employed and don’t have one year’s accounts? I turned self employed just under 2 years ago so will only have the first full years accounts before I need to apply for my remortgage, can anyone help me get a specialist self employed mortgage?
The good news is that some lenders will consider just 1 years accounts or a reference for the first year period from your accountants, and/or an SA302 tax calc from HMRC. If you own a limited company and are a Director then your salary and dividends could be used, lenders operate an affordability calculation these days to determine how much they will lend you instead of the traditional 4x income multiple you might have seen in the past. Bear in mind you will usually need to provide your last 3 months personal bank statements andante outgoings such as car loans or credit cards, as well as maintenance payments or pension deductions can all come off the amount the lender will provide to you, so if you have spare deposit it might help your maximum lending if you are looking to get the maximum mortgage amount that you can afford. If you provide us with more details by filling in our enquiry form we can arrange for an expert to give you a call and help you find the best mortgage lender for your self employed situation.
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