Guest boesman

Getting a mortgage if self employed

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    Guest boesman

    Hi, we have been in Adelaide for just over two months, yeah, and is going to see a morgage advisor next week about getting a morgage. Any tips on what to take when you are self employed? Obviously we don't have a tax return yet and my husband is subcontracting permanently to a very big company. Anyone else out there that got a morgage being self employed? We want to get a loan sooner rather than later. Perhaps we are mad and living in fairy land and won't get a morgage at all....:wacko:

    Cheers

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    Hi, we have been in Adelaide for just over two months, yeah, and is going to see a morgage advisor next week about getting a morgage. Any tips on what to take when you are self employed? Obviously we don't have a tax return yet and my husband is subcontracting permanently to a very big company. Anyone else out there that got a morgage being self employed? We want to get a loan sooner rather than later. Perhaps we are mad and living in fairy land and won't get a morgage at all....:wacko:

    Cheers

     

    Hi

     

    Generally someone that is self employed will require 2 years ABN and financials however there may be ways around this dependent upon your individual circumstances.

     

    Your visa type will play a part as will the amount of deposit you will have.

     

    Are you seeing a Bank or a Broker?

     

    You should seek advice from a Broker that has experience with UK expats as the lending policies differ vastly from leneder to lender.

     

     

    Regards

     

    Andy

    Edited by Andrew from Vista Financial

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    Guest boesman

    Thanks guys. Yes, we have an appointment with a broker, but just want to be prepared when we get there and don't want to be shocked and dissappointed. Andy, we got permanent residency and hubby's got an ABN. Glad there are ways around it. This same broker we are going to see got a morgage for friends of ours who has been here only three months and on a temp visa only so hopefully he can pull a miracle for us too by the grace of God.

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    We went to HSBC having been here 3 months and neither of us had a job, but with our skillset we got a morgage approval no problem. No broker was needed.

     

    (This was prior to GFC)

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    Guest smurph

    i think it all depends on how much deposit you are going to put down too, we got a mortgage within 5 months of being here and with only 2 month employment history for one of us and a 3 month self employed history the other, on a temp visa with a bank.

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    Guest boesman

    wow, that sounds great!! Will try out second opinions. OUr first guy was helpful, but he said we should wait two years to proof taxable income or pay a 12% interest rate on a low doc morgage.

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