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mortgage for moi
Radsteral
Posts: 836 Forumite
Wondered if anybody could advice me before i go to the banks.
I failed to get a mortgage in january .. had almost 40 k but my wages =21 k a year. and the property i wanted to buy was 240.000.
i Own a small company so0selfemployed.
I just did my company anual return and set wages at 44.000 a year.. deposit 35 k and stil looking at 240.000 range houses /
Bank with hsbc and like their 10 percent deposit ..
What are your thoughts.
Thanks rad
I failed to get a mortgage in january .. had almost 40 k but my wages =21 k a year. and the property i wanted to buy was 240.000.
i Own a small company so0selfemployed.
I just did my company anual return and set wages at 44.000 a year.. deposit 35 k and stil looking at 240.000 range houses /
Bank with hsbc and like their 10 percent deposit ..
What are your thoughts.
Thanks rad
0
Comments
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How many years accounts do you have?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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3 years.. the first 2 on 21.000 and last one 44.0000
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The key question for me isn't what you've taken out in wages, but what is the net profit is before tax for each of the three years?
(It may be worth talking to your accountant about more tax efficient ways of removing your income from the business).0 -
gross first year 57.000
gross second year 79.000
gross third year 130.000
i understand you asked for net figures but i dont have these figures sorry
and thanks for replying0
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