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Mortgages

Dicko

Dicko

Edgar Davids
Sorry to start a dull thread about mortgages but I need a quick answer from some of you clever folk!

I'm thinking about changing from my permanent role and setting myself up as a Ltd company and just doing contract work instead. There's quite a lot of work out there and I think I can justify the pros and cons of making the switch...

My question however is, if I want to move house again in the next year or so will it affect my ability to get another mortgage?

I've heard some people say that if i'm still doing the same job then it shouldn't make any difference but then someone said to me today that I would need 3 years worth paperwork from contracting before I could get another mortgage!?

Any advisors amongst you lot?



PS. I work in the Pharmaceutical Industy
 
Now days you will need at least 2 years audited accounts.....Its irrelevant if its in the same field as your previous job.
 
dingdongo - im happy to audit your accounts

for a fee of course

and if youre a girl - sex
 
Notmegov said:
Now days you will need at least 2 years audited accounts.....Its irrelevant if its in the same field as your previous job.
Click to expand...

Unless it is a continuation i.e plummer working as employed, then goes s/emp can make a difference if it is the same field with some lenders.

My advice, go to an ifa/whole of market adviser, you dont need to pay them upfront, just see what your options are and decide if you want to go for it or not, see what is available in this current climate. But make sure it is whole of market so you know they are sourcing from the widest possible lenders.

It can also depend on the level of deposit/Loan to value of the mortgage as some lenders may only need one years accounts if the deposit/equity is higher - usually 25% deposit (75% Loan to Value)
 
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Cheers, Looks like I should be ok. Seems like Mortgages for contractors is a bit easy than it used to be.
 
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