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  • Mortgages & Finance

    Combine self employed & employed income?

    Does anyone know if when it comes to buying a residential property to live in do any lenders accept both employed income and self employed income together? or is it one of the other? I ask because if I could add them together I could of course borrow more. (I have years of tax history to proove self employed income etc

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    It depends on the lender and the client profile they prefer, but yes, generally speaking, you can combine all your income streams when applying for a residential mortgage, provided that you can evidence the SE income via a tax return.

    If you give the team at Property Tribes Financial Services a call on 01206 654444, they are "whole of market" for both residential and BTL and will be able to find a suitable lender for your particular circumstances.

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    Thanks will do. It is rental income though so I believe many dont like that? But I have the SA302s etc

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    Yes they will. If the income is uncertain (bonuses or new self employed profits) then they tend to scale the figures back a bit. You will need to present HMRC evidence and/or accountants details (make sure your accountant is chartered as the lenders don't like some accountants opinions).

    Rental income is the item more frequently disregarded (but not always).
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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    To echo what has already been said, yes there are lenders who will consider more than one income stream. Some may consider just 50% of it or only those properties without mortgages on them. 

    Some lenders will consider everything that's on an SA302. 

    Get in touch to see how we can help.
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    You can contact me via Direct Message, or 07788 219647 or call the team on 01206 654444 for personalised quote and advice