Mortgage for self-employed first time buyer with only 2 years’ accounts

The clients are a married couple looking to purchase their first home in North London. The husband is a self- employed electrician and the wife is a nursery teacher.

Initially, they had tried going to lenders directly but found that the husband’s trading history was too short. I was able to source a lender that was happy to accept only two years’ trading figures, particularly as in the most recent year there had been a significant uplift in earnings.

Here are the details of the deal.

Purchase price: £230,000

Loan amount: £184,000

LTV: 80%

Rate: 3.05% 3 year fixed

Terms: 25 years capital & interest repayment

Arrangement fee: £995

This is just one example of how I've helped a client secure a residential mortgage. To see more of my case studies please visit my profile page. And if you have any funding requirements, please do not hesitate to contact me. My direct line and email address can be found below.