Self employed-credit checks

[Emmamb]

Ok,so I've found a massive house that I wanna rent,obv they wanna do credit checks and cos my slate isn't clear I asked the guy on the phone what they actually checked for-he said it was employment and landlord checks and to make sure no ccj's for rent arrears. So in theory my bad debts should b ok but now I'm worried cos I'm self employed,how would they check my income,i've only been doin it a year and now on maternity??

 

[amandapanda]

I'm not sure how they do it but I just had the same thing done by a landlord....I don't know how they got details of my income because I know my work wouldn't have told them anything for confidentiality reasons....but somehow they found out. However they didn't take into account my Working Tax Credits every week and the landlord turned me down saying he didn't think I could afford the rent on my income and he'd rather rent it to someone on benefits!! xx

 

[Samsgirl]

posted on your other thread, but just from my experince, you would struggle to get a mortgage in this current climate only being in business for 12 months...sorry to disappoint but just thought i better let you know how it is.....'normally' lenders need someone to have been self employed for over 2 years and have last 2 years trading accounts or if you don't have an accountant, then last 2 years Inland revenue approved tax returns....or at least 1 full year....

it's very frustrating for us mortgage advisors when we want to help people and we cant cos of the 'rules' especially with whats going on in the economy at the moment..

hope that kind of helps...xx

 

[emmaandjayden]

I had the same with my house. I am self employed but didn't have any up to date accounts that they wanted ASAP and were making it difficult for me so my dad offered to be a guarantor. Is there anyone that can act as a guarantor for you. Think it needs to be someone with a mortgage. xxxx