Accountant Certificate for a mortgage application

How can a sole practitioner (Ltd co) get Accountants Certificate for their own mortgage application

Didn't find your answer?

I'm a FCCA sole practitioner Ltd company accountancy practice. How can I get an Accountant's Certificate for my own mortgage application? 

Replies (13)

Please login or register to join the discussion.

By ireallyshouldknowthisbut
07th Jul 2020 09:21

My company did mine with its company hat on.

Bank didn't seem to care the borrower was also signing the form. Mortgage applications are just ticking boxes through a procedure, they are not to be confused by any sort of actual genuine assessment of lending risk.

I doubt there is a box for "is the accountant also the applicant?"

Alternatively, just send signed accounts.

Thanks (3)
Scooby
By gainsborough
07th Jul 2020 09:32

I did the same with signed accounts.

Thanks (2)
avatar
By graydjames
07th Jul 2020 09:41

Santander were not satisfied with my signed accounts nor any question of self-certifying (I also operate through a company). I had to get another accountant to prepare a certificate. I knew several to choose from; wasn't a big issue.

Thanks (1)
avatar
By seandrowe
07th Jul 2020 12:32

Applying through a broker normally helps make the process easier as they should know the lenders that will be more flexible.

Thanks (1)
Caroline
By accountantccole
07th Jul 2020 14:18

Fairly certain we had a specific form to complete as an accountant who did their own accounts, for Nationwide, a few year's ago so systems may have changed

Thanks (1)
7om
By Tom 7000
10th Jul 2020 09:43

Self review threat, my guess is the pixies at the ACCA will have you on the big naughty step when you get your QAD visit.
Get your best mate who is an accountant to do it for you and make the issue disappear before you have it.

Thanks (1)
avatar
By North East Accountant
10th Jul 2020 11:54

If you don't have any Accountant friends, as Tom 7000 suggests, I would mention upfront that you do your own accounts and ensure that they are comfortable with it before you go down the line with them.

I did mine last year and they were fine with me providing my tax returns, tax year overview and tax calculation and accounts prepared by me.

No accountants certificate.

Thanks (2)
avatar
By Wanderer
10th Jul 2020 12:09

This is a tick boxing exercise by junior staff at the lenders. Many years ago went through exactly this pain process personally. Lender insisted on an accountants' certificate being attached to our accounts. The irony was completely lost on the member of staff at the lender.
Just attach an accountants' certificate to the accounts and complete the lenders one if asked and sign it off.
Wouldn't ask / raise the issue in advance, just do it and see if anything comes back.

Thanks (2)
By Nebs
10th Jul 2020 13:59

Any accountant that requires a mortgage needs to review their fee structure.

Thanks (0)
Replying to Nebs:
avatar
By North East Accountant
10th Jul 2020 15:32

2 scenarios ;

A) Use surplus funds to pay down your personal mortgage so you have no mortgage.
Saving: 1.79% (fixed for 5 years) of interest per annum.
ROI: 1.79%

B) Use surplus funds for other ventures.
Costs: 1.79%
ROI: 20.0% plus per annum

All depends on your risk profile of course and there is nothing wrong with being an A, or a B.

Being a B does not mean your fee structure is wrong (although it might be) it just means you're doing it a different way to an A.

Thanks (1)
avatar
By AK Accountancy
15th Jul 2020 16:32

I too had this issue but with a twist. My mortgage application was in my full name but, as I am known by my second name, the tax year overview I provided was headed "2nd name acting on behalf of xy accountancy ltd"
Mortgage provider wanted a certificate from 2nd name of xy accountancy ltd and didn't even notice that I provided the same address and contact number as supplied on the application form.
Worrying

Thanks (0)
avatar
By E Ben
23rd Oct 2023 22:49

Hi Could someone know or recommend an accountant that could do Account's Certificate in Birmingham for my mortgage application please?

Thanks (0)
Replying to E Ben:
avatar
By Wanderer
24th Oct 2023 06:53

Your present accountant will do it.

If you don't have a present accountant and have done a DIY job on your accounts and / or tax return you probably won't find anyone willing to do it.

Thanks (0)