Self Cert or Normal Mortgage

[twiglet321]

I am recently self-employed and would like to get a mortgage with a close friend. He is in permanent employment and has been in the same job for 14 years. We both earn a good wage, me more than him. Does anyone know if we could get a normal mortgage under these circumstances?? Finding the 10-15% deposit needed under self-cert is pretty frightening!!!

[jason1980]

So long as you find a 5 - 10% deposit been self employed for 3 years or more and never been bankrupt a bank or building society should find you a suitable mortgage. Keep in mind that it depends on both of your income to the amount that they will lend usually around 3.5 times the combined income. Self employed income can be proven with self assessment for tax documents from Inland Revenue

[zbzj]

I think your only option is a self cert mortgage as with any other kind of mortgage you will need to prove your income, how will you do this if you have only recently been self employed? I you have been self employed for at least 1 year and have had a qualified accountant for this time then yopu may be able to get a 'normal' mortgage with just one years accounts and a projection letter from your accountant, but anything less than a year then I see you have no chocie but to self cert