View Full Version : New Mortgage, Is it worth switching to an Umbrella Company

8th August 2013, 06:53
Hi, In June I started to work for a Building company as an Architectural designer but stayed self-employed (I also so my own architectural design work), however now I want to apply for a joint mortgage with my Husband (he's on PAYE!) and i suspect I am going to come up against problems as I'm self employed.

Would I be better registering under an umbrella company? Would that please the mortgage company does anyone know? My employer has said he'll provise me with whatever is necessary to prove I am working for them permenantly for that amount.

The Mortgage is currently in the early stages and I am trying to anticipate any issues....

Thank you

8th August 2013, 10:36
Give Contractor Financials a call and get some advice from them. They got me a great mortgage deal in the past and are very helpful.

I seem to recall when I was considering a joint mortgage that they advised I (self-employed) should be listed as the first applicant and my then partner (PAYE) be the second as I earned more. However, I presume you can switch the two around to present a more 'reliable' income profile. A financial adviser is key here though.

Power Mortgages Ltd
8th August 2013, 13:19
Hi Jojo1974,

Whe you say you have remained self employed, is that through your own Limited Company or as a sole trader? How long have you been self employed for so far? Finally, are you contracting to the new company?

These are all key factors which would influence which lenders can assist.