Mortgage Q- Self employed & autioneer query

Just a few questions that I need answered to access what road I can go. Myself and fiancée are renting a lovely 3 bed semi detached house. Later in time we would like to build but it has come to light that our Landlord is thinking of selling and it would be a great opportunity and for us at the moment it would be ideal.

Questions:
Landlord is proposing not using an auctioneer, that should make a difference to the asking price as their fees will not be considered, how would a deal like this work and would it take much of asking price roughly?

Second question and it’s a biggy, I am a full time employee and my fiancée has recently started his own plumbing business and has been in business for the past 6 months, is there much point in going to enquire about a mortgage in relation to him being self employed. We were travelling for 2 years and therefore we only would have about 1 years history for me and 6 months for him before that there was a 2 year break and before that all is fine??

Thank you so much.

Mortgage approval depends on a lot of factors, but mainly how much you are looking for, what your income is and what you work as at the moment.

Your fiancée would generally need to provide 2 years accounts, but banks can look at this on a case by case basis.

You should possibly think about looking at getting a guarantor as well.

Go to a broker to assess all options

Bob

Taz,
Many banks take the view that certain categories of workers can pick up work easily - ie if you fiancee wanted to become PAYE instead of self employed, he could probably do it quite quickly - I would suggest that some banks would look quite favourably at your application

You may have to look to Start Mortgages. He could always self-certify. You'd probably be on a rate of 5.8% but could come switch your mortgage by year end and they won't charge exit fees. Talk to a broker.