Mortgages for self employed

anmm

Hi currently on a Abby mortgage @ 5.7% that will end this month, me and my wife want to move to a larger home and we currently borrow about 120k, we don’t want to borrow much more. We should have about 45k deposit.

My wife is a nurse, currently part time due to having a new born last year, and I am self employed, I pay myself around £500 with a top-up each month from dividends.

I will also have 2 years accounts within the next couple of months (Ltd).
I guess what I am trying to find out if anyone knows of any companies that except dividends as an income. Or any other options?

So anyone got any advice or suggestions on what to do?

thanks
Dave

opinions4u

When I underwrote mortgages it was the net profit of the business that mattered.

If dividends had been withdrawn and paid directly to the owners, I would add these back in to the income calculation.

In other words, a loss making business that paid its owner a huge dividend didn't enable that owner to raise a large mortgage on the back of that dividend!