Mortgage Application

housebuyer_abc

We are looking to purchase a house and I am looking for some advice as to lenders that I should approach.

We are looking to borrow 150K and have a deposit of over 200K

All seems fine up to now, however I own the company that employs me. I earnt 20K last year from my own business and drew 50K from previous years profits as a dividend, in previous years the split has been the other way around.

Who should I approach as many lenders do not wish to lend to company directors

herbiesjp

As long as you have proof of your income, you will be fine with many lenders

HTH

housebuyer_abc

What constitutes proof of income.

I have my P60's for the last three years and dividend vouchers for the paid dividends and corresponding statements that show the payments went into my account.

I also have the companies Corporation Tax Confirmation Letter from HMRC should this be enough?

herbiesjp

housebuyer_abc wrote:

What constitutes proof of income.

I have my P60's for the last three years and dividend vouchers for the paid dividends and corresponding statements that show the payments went into my account.

I also have the companies Corporation Tax Confirmation Letter from HMRC should this be enough?

All looks OK

I suggest having a word with a whole of market mortgage adviser, and let them run the details past the lenders (in generic format) to get a feel for whether the lenders would be happy and which ones

HTH

Rick62

A consistant combined earning & dividend income of £70,000 for £150,000 mortgage, you should have no problem with any lender. Really just a question of choosing the mortgage that suits your needs.

housebuyer_abc

thank you ! !