Been given the chance to buy the flat that the other half and I have rented for a long time. I am recently self employed and have no accounts as yet and my non investment income will not be regular, she is a couple months into a good permanent job after a few years of doing self employed contract work.
I own two other properties outright and have some money saved for up to about 40% deposit and stamp duty, her current income should cover the rest on the usual multiples given I think so the mortgage would be entirely hers. She has a fair bit of debt on a maxed credit card which would be paid off before a mortgage application but fairly good credit history. We dont have any shared accounts or finances and neither of us have had a mortgage before.
Given the stories about people being rejected at the moment are we wasting our time even thinking about it?
I own two other properties outright and have some money saved for up to about 40% deposit and stamp duty, her current income should cover the rest on the usual multiples given I think so the mortgage would be entirely hers. She has a fair bit of debt on a maxed credit card which would be paid off before a mortgage application but fairly good credit history. We dont have any shared accounts or finances and neither of us have had a mortgage before.
Given the stories about people being rejected at the moment are we wasting our time even thinking about it?