Why can't I get a mortgage? | Money | guardian.co.uk

Why can't I get a mortgage? | Money | guardian.co.uk

Q In April I left a large engineering company to become an equal partner at a smaller consultancy which has been in business, and profitable, since 2007.


My wife and I would like to move to a bigger house and are looking for a mortgage of about 45% loan to value. The mortgage multiple of my profit share, based on past records and profit so far this year, is approximately two to three. We have no debts besides our current mortgage and have overpaid on this mortgage by 25% over the past six years.


I have approached a number of lenders including my current mortgage provider but am unable to get anywhere. The adviser always contacts a senior underwriter who says "no, come back in two to three years", even before they know how much I am asking for.

I would like to know why they don't take into account the fact that the partnership is an established business and has been running for four years and why I cannot get a mortgage when the other partners, who are on exactly the same terms and profit share, can?