Can I get a mortgage working off latest years income figures If you are reading this article you probably are interested in mortgages working off latest years income as it will have a direct bearing on your borrowing potential. Mortgages working off last year’s accounts are typically polarised into two categories: Companies trading 1 yearCompanies trading 2 or more years where the profits … [Read more...]
Mortgages based on net profit of a limited company
Using Net Profit criteria for mortgage affordability for shareholding directors. Want to know how you can borrow more using your Net Profit for a mortgage then you have come to the right place. Traditionally Mortgage Lenders have looked at the directors’ remuneration (salary) and dividends drawn when assessing affordability of a residential mortgage. This blanket approach makes sense for … [Read more...]
How to get the maximum mortgage when your self employed
Maximum mortgage solutions for Self Employed clients If you are self employed operating as a Limited company we have a number of lenders that will use the underlying net profit rather than drawn dividends. So if you are keeping money in the business you will be able to borrow more. With almost 82% of new business going via brokers its always worth talking to an independent broker that deals with … [Read more...]
Self employed mortgage requirements
Are you self employed and struggling to get a Mortgage. In this article we will breakdown some of our recent FAQ's It is fair to say most mortgage lenders will lend to the self employed applicants that have been trading for at least a three years with accounts showing an incline of profits over the period. If you do not conform to this scenario obtaining a mortgage can be tough. At Niche … [Read more...]
Mortgages for Limited Company Owners
I need a lender who will take my net profit into account To most of the UK Mortgage Lenders you are either ‘employed’ or ‘self employed’ when they set about calculating your affordability. The reality is most Limited Companies are husband and wife who between them hold all the shares. So it could be argued that you are both ‘employed’ AND ‘self employed’ but in the majority of instances the … [Read more...]
Self Employed Mortgages based on last years accounts
I need a Mortgage lender who will lend on my last year’s net profit figure Thought your Accounts were good until you tried to get a self employed mortgage? The reality is most Accountants will ensure accounts are configured to show the absolute minimum net profit but unfortunately this can be problematic when trying to get a mortgage. Long gone are the days you could self certify your own … [Read more...]
