It's fair to say that most lenders have a poor understanding of contractor businesses. I see lenders asking for an SA302 more frequently than contracts etc.
Andy - If it isn't too late, I would suggest using a mortgage advisor who specialises in contractor businesses.
Martin
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Getting Mortage, can I submit company accounts early? SA302"
Collapse
-
Hi Andy,
Out of interest why does your broker require an SA302, if your LtdCo is in it's infancy?
There are lenders who don't require this, and can even lend to 'day one' contractors...?
Best Wishes,
Mark
Leave a comment:
-
I agree with what Claire says.
Also most accountants use software for accounts and tax filling.
The one we use has the SA302 summary as the last page after the tax returns pages.
Check to see if your accountant has already sent it to you, when they submitted the tax return.
Leave a comment:
-
The SA302 is a summary of your tax return information from HMRC. Your 2013 tax return should be filed by now so you'll be able to get that year. You cannot file your 2014 tax return until after the end of the tax year in April.
You cannot file accounts for a limited company until after the year end, although your year end can be shortened at Companies House.
If you cannot use full accounts your accountant should be able to supply management accounts and an income reference letter that reflects what would be on an SA302 to that point.
Leave a comment:
-
Getting Mortage, can I submit company accounts early? SA302
Hi,
I am applying for a Mortgage and as this is my first year I have not yet got 1 years accounts. My Mortgage broker requires a SA302.
I am only 6 weeks early, but we have had an offer accepted so I'm now getting concerned that we will not be able to take forward. I was informed I could submit early, but my accountant seems to think otherwise.
It's a hard thing to Google, all I could read was that I either need a SA302 or the alternative is proof of contract past and future..
Any help appreciated.Tags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: