Ask the Specialist

Capital Fortune are asked to help clients on a daily basis, whether it be with a new purchase, remortgage, buy to let or something more unusual. We typically help clients with non-standard, unusual or complex situations and have created this section to allow you to ask our team of specialists any question you may have. Feel free to browse the list of questions and responses. Please note we provide information only in response to the questions posed and not advice. If you do seek advice then feel free to speak to one of our Advisers by calling 0207 710 0400 or send us an enquiry online and one of our Advisers will call you back.

We are self employed with 2 years accounts. Can we get a mortgage?

on 04 April 2014.

We are a husband and wife director team running a very profitable company.

Applied for a mortgage with a National Lender as we are longstanding existing customers with 2 years of accounts. Getting hugely conflicting info from the underwriters and am fed up with them. It's one problem after another to the point of farcical.

It's as if they just don't know what they are doing.

Our LTV is only 47% and we will be homeless in 4 weeks if this doesn't go through.


Ask the Specialist response:

Thanks for your enquiry.

We do sometimes hear from self employed clients who are a little frustrated with the time it is taking their existing lender or bank/building society to approve a mortgage for them.

We typically help clients in this situation with two years accounts or one years accounts.

Sometimes lenders may take longer to assess your mortgage application because your business accounts are not straightforward. We would need to take a look at them and, if necessary, provide further information regarding the structure and income to the underwriter to enable affordability to be properly assessed. This may be because of retained profit, director's loans, explainable and valid losses, change of vehicle, directors or shareholders and so on.

Given the urgency of the situation I would recommend speaking to one of our Advisers on 0207 710 0400 or send us an enquiry online and one of our Advisers will call you back within 24 business hours.

David Rostron MEng(Hons) CeMAP CeRER
Business Manager