A number of lenders will now consider a mortgage application from someone who has been trading less than two years, as long as you can provide one year’s accounts.
Do you have a contract with a client?
You may not get paid by the traditional way of monthly pay-slips and an annual P60, but if you have a contract with your client, with some lenders, affordability of mortgage application can be assessed on the value of your contract.
Zero Hour Contracts
An increasing number of individuals now have a zero hour contract with their employer, but this won’t necessarily stop you getting a mortgage.
You may provide your services to a client through a contract between your limited company and your client. In these circumstances, it may be possible to assess the affordability of your mortgage based on the value of the contract.
Limited Liability PartnershipsIf you are a professional and have recently joined a firm as partner, lenders will now assess affordability of the mortgage based on the value of your contract with the partnership.