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Setting up a company

  • 15-05-2019 01:09PM
    #1
    markpower
    Registered Users, Registered Users 2 Posts: 11 ✭


    Hi,

    I'm currently looking into starting my own business while also continuing to work. I've been told that I wont be able to apply for a mortgage if I I'm a business owner for less than 3 years. Can anyone clarify this?

    TIA


Comments

  • #2
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    It's not that you cant just that it's a lot harder. You need to be able to prove your income and for a business they tend to want 3 years worth of accounts to prove it. It's not really anything to do with employment status its income status that they care about. I was able to get a mortgage early on when we started our business due to having other income sources/assets.


  • #3
    markpower
    Registered Users, Registered Users 2 Posts: 11 ✭markpower


    jimmii wrote: »
    It's not that you cant just that it's a lot harder. You need to be able to prove your income and for a business they tend to want 3 years worth of accounts to prove it. It's not really anything to do with employment status its income status that they care about. I was able to get a mortgage early on when we started our business due to having other income sources/assets.


    Great Jimmii. Thanks very much for the info.

    Regards
    Mark


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