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stuckin2up2down

15% LTV Self employed with a low wage - can you get a low LTV mortgage?

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I own my current home outright, but the one I want is going to be in total about 40k more than I have.

Only earn about 6k a year with my self-employment and accounts only for the last 9 months.

Will it be easy or difficult to get a mortgage for about a 15% LTV?

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On 05/05/2018 at 12:21, stuckin2up2down said:

I own my current home outright, but the one I want is going to be in total about 40k more than I have. 

Only earn about 6k a year with my self-employment and accounts only for the last 9 months. 

Will it be easy or difficult to get a mortgage for about a 15% LTV? 

Do you mean you've been self-employed for 9 months? or the accounts for the last 9 months are 6k? If you only made 6k or less in a financial year don't forget to pay you're NI voluntarily.

TBH I can help as I don't know. I'm self employed hence my interest and have been told it's trickier to get a mortgage. Much like insurance companies I guess they have to go by the statistics for self employed.

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