I am an employee, partner is self employed and been trading since Aug 11, so not quite 2 years but 2 sets of accounts, accountant can also provide projection for next year.
We want an offset mortgage, it makes sense with the Self Employed Tax money that she has to save. Because we need 90% LTV the options are limited so about YBS/Chelsea (3.94% with tighter lending criteria) or Scottish Widows (5.19% - Professional mortgage, already have an AIP).
YBS sounds like a no brainer but after the 2 year fix there variable rate is 5%, Scottish Widows is 4%.
Are we best sticking with the lower rate for now then changing or does sacrificing the rate now to be on a better variable rate in 2 years make more sense? Also concerned about applying to YBS and being rejected as not technically 2 years accounts.
We want an offset mortgage, it makes sense with the Self Employed Tax money that she has to save. Because we need 90% LTV the options are limited so about YBS/Chelsea (3.94% with tighter lending criteria) or Scottish Widows (5.19% - Professional mortgage, already have an AIP).
YBS sounds like a no brainer but after the 2 year fix there variable rate is 5%, Scottish Widows is 4%.
Are we best sticking with the lower rate for now then changing or does sacrificing the rate now to be on a better variable rate in 2 years make more sense? Also concerned about applying to YBS and being rejected as not technically 2 years accounts.