Getting a mortgage if one partner is self-employed.

[fobs]

If one partner is self-employed (only since sept last) and the other partner is PAYE is it more difficult to get a mortgage for an investment property.
Most of the websites state as self-employed need 3 years accounts (which we won't have) so do we have to wait until he is self-employed 3 years to apply for another mortgage?

 

[gloworm]

we are self employed and had to wait 3 years before getting a mortgage. it is still worth making enquiries to individual banks, building societies etc as they may make exceptions.

not sure what happens when one of you is an employee though.

 

[bluebell]

We managed to get a mortgage from first active. my partner was only self employed for 6 months. they accepted projected accounts for 3 years from his accountant.

 

[Pseudonym]

Some Banks will insist on the 3 year rule, some banks wont. As the mantra goes "shop around". It would also depend on how long your partner is working in the industry that he is now self-employed in. Banks will generally look more favourably on people who have worked in a particular industry for a number of years before becoming self-employed.

As the previous poster also said, projections can also be provided.