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SOLE TRADER PAYING WIFE - Can this be used as 2nd income on a mortgage application?

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  • SOLE TRADER PAYING WIFE - Can this be used as 2nd income on a mortgage application?

    PLEASE HELP! We are hoping to get a mortgage but the banks are not yet offering us enough to get the house we really want and definitely CAN afford - we pay more than the mortgage offers in rent.
    My wife is a part time teacher and I am a full time teacher and also a sole trader of my own small business selling educational supplies.
    Am I allowed to pay my wife a small wage/salary from my business for the admin jobs that she does; increasing her income so that the bank will offer us a higher mortgage?
    Any help greatly appreciated! Thank you
    Last edited by LOREN888; 28-07-2018, 03:22 PM. Reason: mortgage

  • #2
    Interesting post! I can't offer any advice on this myself, however, I am following as I am intrigued as to what you find!


    • #3
      Hi Loren, Different lender have different rules, but in short the answer is YES - you can use additional sources of income such as self employment to boost the amount of borrowing, providing you have declared the income, ideally you will need x3 years accounts but some lender will accept 1 year. You can choose to declare this income yourself or via your wife.

      If you would like to speak with an independent Mortgage adviser for free - please email me @
      [email protected]
      and I will be happy to help you.