Limited company director trying to get a mortgage please help!

holly_hobby

Thrugelmir wrote: »

I'm not in anyway casting aspirsations on the individual concerned.

Changing the guard in no way infers that the business will as successful in the future as it was historically.

Yes already covered by me .... read the posts and try and help the OP if you have any experience to relay.

Holly

vlevans

holly_hobby wrote: »

Now that's the kind of post and broker I like ... :T

(you didn't mention he has shadowed for the last 2/3 yrs ready to take over the reigns ... your pitch just got better !!)

Please let us all know how you get on ... I shall keep it all crossed for you .....

Holly

This is why we can not understanding why it is such a problem!
But thank you very much Holly, I shall keep you informed

Thrugelmir

vlevans wrote: »

This is why we can not understanding why it is such a problem!

Out of curiosity what does the business do?

vlevans

holly_hobby wrote: »

By the way, has Dad retained an interest, even as a sleeping partner or as a non=employed (non shareholding) adviser to the Co ?

Holly

Didn't see this earlier!
His dad still comes in and works part time for my Husband when he is needed eg: when they have too much work on and my husband has to go out on site and work (which will be for pretty much the next 2-3 months as they have so much work on!:D)

holly_hobby

vlevans wrote: »

Didn't see this earlier!
His dad still comes in and works part time for my Husband when he is needed eg: when they have too much work on and my husband has to go out on site and work (which will be for pretty much the next 2-3 months as they have so much work on!:D)

So there remains guidance even after the 3 year shadow/coaching role.

By the way, no ones business what the company does. (is for the lenders consideration, and will only be an issue if its a market that is depreciating)..

Holly

vlevans

Thrugelmir wrote: »

Out of curiosity what does the business do?

not sure I actually want this on public site

Thrugelmir

vlevans wrote: »

This is why we can not understanding why it is such a problem!

In essence as its an opinion not a measurable fact. Your husband needs to build his own reputation by delivering positive financial results over an extended period.

Between 1992 and 2008 the UK had the longest unbroken period of growth on record. The next 16 could be a significantly different era. There's a whole generation that haven't had to steer a business through an extended recessionary period.

holly_hobby

Hi ..

Nationwide will consider less than 2 yrs accts if the business has been trading for longer.


Hope this helps

Holly

holly_hobby

james7575 wrote: »

hi guys. this is my first post. I'm not sure if this is any help in anyway, but my friend needed proof of his income and could not provide due to self employed. so he used this company Wageslips2go.com to get replacement printed wagee slips to proof his income. It was a great service and resulted in him getting the mortage he wanted.

The OP is known to be a controlling director - so has to present accoutants.

You, or anyone else reading your post and considering taking such action, should also be aware that lenders as part of their underwriting procedures, have the capacity to perform inland rev checks. This procedure was used on self employed applicants, whose declared income didn't sit quite right with the uw.

The consequences of any fraudulent documentation or information being revealed - well I don't have to spell it out.

I don't mean to sound heavy handed - but its very important to be aware of the serious fallout from such actions.

Hope this helps

Holly

vlevans

Hi all just a quick update and question,

We are currently going through the application with natwest have told them the whole situation from the beginning and they we're happy to do the mortgage. We forwarded on all the documents they asked for (proof of ID, proof of address, accountants certificate for proof of income and an accountants reference). All was going well and we thought the survey would be instructed today but have now been told this morning that they want a SA302 then they will instruct the survey.
My husbands accountant is now on holiday for 2 weeks so don't really know what to do as we thought all the documents the accountant has already sent covered what the SA302 does and more.

The accountant is a chartered accountant also.

Any advice would be a great help.