Will being self-employed impact on our ability to get a mortgage? | Money | guardian.co.uk

Will being self-employed impact on our ability to get a mortgage? | Money | guardian.co.uk

Q My wife and I have received an offer for our house. We haven't found anywhere to move to yet, and as there is very little around at the moment we are contemplating renting while we find our dream family home. However, our mortgage situation is a little complicated and I am nervous about selling and renting, effectively taking us off the housing ladder, in case I then find myself unable to get a mortgage later on down the line.


Here is a breakdown of our situation: I am a marketing consultant and the sole director and employee of my own limited company. I set the company up two years ago and have two years' accounts. I pay myself a combination of salary and dividends that take me up to the higher rate tax threshold (any money left is generally kept in the business). My wife is a primary school teacher just about to go back to work part time following maternity leave. She'll be on 60% of her full-time salary (roughly £22,000). We have no other debt and a generally good credit history, and with the equity from our current home plus savings we could have a sizeable deposit.