Hoist With Your Own Petard?
Most mortgage lenders only consider net rather than gross income to calculate the amount they will lend.
This may be a problem if you have – perfectly legally – offset expenses against earnings to minimise your tax bill and can’t show that you can afford as large a mortgage as you feel you can.
The answer to this problem may be a Self-Certification Mortgage.
These don’t require proof of income though the lenders will check that you will be able to afford the payments with your accountant.
Some lenders will accept applications from the self employed who don’t have an accountant.
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