What is going to happen with the proposed crackdown by the FSA on self employed people getting mortgages?
It has always been a bit harder for self employed people to get mortgages. There are a few things you can do to help yourself in advance of your application. Don’t apply for any unnecessary credit in the run up to your application as this affects your credit rating. Pay all your bills on time. Don’t exceed your credit limit on any cards you may have. Finally check your credit file (with Equifax or another similar organisation) and, if there is anything incorrect on it, get it changed. Most financial institutions require a copy of your trading accounts for the last 3 years before they will offer you a mortgage. However, if you have had your accounts prepared by an accountant and, the accountant can provide some further figures and information about your business it usually makes things easier. If you are thinking about applying for a new mortgage soon then get in touch now and let P L Gauntlett Accounts ltd prepare your accounts.
