Getting a mortgage

[FarmerPalmer]

Not true in my case - I'd only been ltd for 6 months and they were happy to be shown invoices.

I hadn't had a problem with High Street banks ... until last year !

This time around I had to go through Contractor Money and pay a slightly higher rate of interest.

I guess its the effect of the credit crunch - Contractors are again deemed high(er) risk

[Sausage Surprise]

I hadn't had a problem with High Street banks ... until last year !

This time around I had to go through Contractor Money and pay a slightly higher rate of interest.

I guess its the effect of the credit crunch - Contractors are again deemed high(er) risk

Mine was in Jan 08 so you may be right - looks like I got in before the checks became more stringent

[Flopsy]

We applied for mortgages (high st banks) in 2007 and 2008. They were happy to go ahead with 6 years audited accounts. This was on their advertised rates. We didn't buy as the market was moving too quickly and we were usually gazumped (hindsight, phew!).

In late 2008 we applied again and they were only interested if we could put up a large deposit. This was to get rates advertised - but such a large deposit wasn't needed for permie employees (they said).

When we find the right home, at the right time we will apply again. Given the current market some banks are tightening requirements and it does appear as if the self-employed are under more scutiny than permies.