From: "Ken" 
Newsgroups: uk.finance
Subject: Re: Mortgage with two good and one bad years accounts
Date: Sat, 30 Apr 2005 12:06:23 +0100


"Troy Steadman"  wrote in message 
news:9a2d8df8550d1d2246e8d4ea754b5462.125090@mygate.mailgate.org...
> "Ken"  wrote in message
> news:42733a00$0$2591$da0feed9@news.zen.co.uk
>
>> I need to get a mortgage and now have been self employed for four years 
>> and
>> just about to get my third set of accounts from my accountant.
>>
>> My figures will be starting with the oldest first
>>
>> Year one profit £43,750
>> Year two profit £10,000
>> Year three profit £45,000
>
> You need accounts for the fourth year to make sense of this "trend". Are
> you sure your profits are really this up and down? You are employing a
> qualified accountant? What happened in year two?
>
> I would expect mortgage lenders to ask these sorts of question
> rather than simply plugging the figures into an "average".

My income is made up from cheques of an average of £4,800 each (max £11,000 
minimum £2,500) and the problem is that they come in here and there. So one 
month may have several and another month none. This is what happened in the 
middle year - I was still busy but the pattern of 'cheques in' fell just 
before the start of that year and then into the next year. If my year ends 
had been different the figures would of looked much more consistent.

Ken