written by on 29/10/2013
Applied for a mortgage being self employed. Got the mortgage in principle even got an email congratulating us on the success of the application!! Me and my wife got really excited as we thought being self employed and getting a mortgage would be a nightmare!! Our credit scores are A+. So we paid for the survey, all good at this point.
Today received a phone call from my broker who said they had refused the application as the business was set up in 2007 then dissolved & the new company has had a significant income increase!!!
Firstly the business was closed down with no debt, no bankruptcy, no liquidation!! We set up the new business with exactly the same suppliers, contracts & customers. In fact we have grown the business over 2 years with a turnover in excess of half million!!!
Why are these idiots even looking at a company that was closed down over 2 years ago, we have all the accounts for the new business & what we earn now with all relevant paperwork to back it up!!
How the hell can you get refused for having a significant increase in income?? DONT WASTE YOUR TIME WITH THESE IDIOTS!!!