Self-employed with only one year of accounts

Home / Self-employed with only one year of accounts

We were approached by a client who wanted to remortgage her home and raise some extra funds.

This client only had one year of accounts. She had equity in the property but her existing mortgage company would not allow her to raise the extra funds. Although one year of accounts is never enough with some lenders, others are OK with this if they feel you are in a profession that you understand.

Property value £250,000
Loan amount £100,000
Loan to Value 40%
Rate 1.75% Fixed for 2 years, over a 10 year term
Monthly mortgage payment£908
Arrangement feeNil
Valuation fee Nil
Legal FeesNil

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