It is finally April.. not that I’m wishing the time away, but we have been waiting until the new tax year so I can get two years worth of self employment to show the mortgage people.
Well here we are, so what’s the next step?
I need to send all my paper work including, invoices, spreadsheets, expenses, receipts etc to my accountant. (Being self employed is a tad annoying, you have to keep everything in order). My accountant will then tally up my total earnings for the year and send it off to the Tax Man, then I will receive the document I have been waiting for called an SA302. The accountant will need to look at my previous 2 years earnings and then forecast what he thinks I will earn the following year. This is because Banks want to see 3 years worth of earning and of course I don’t have that yet from self employment.
Once the bank see my previous 2 years worth of earnings plus what I am forecast to get for the following year, they will add it together with my partners earnings. Then they will give us an amount of which we can borrow. We don’t know what they are going to offer us yet although we do know what we want and hope to get!
I will leave it there for now and keep you updated once all this has be done and we can progress onto the next step.
Thank you all for reading, please don’t forget to check out my social media channels below… Love Annie x