Declare employment history in full?

jimpix12

Hi, Thinking of going to a broker next week and would like some advice. I am a FTB and have saved up around 60% deposit, I need a mortgage of circa £150k. My base salary is £6.5k + dividends which brings it up to around £70k in total. I am a company director, employed by the company.

The company has existed since mid 2009 and I have 2 years of accounts for this business. Would it be best to get predicted accounts for next year (they will be lower than the previous year, damn recession... ) or should I declare my earnings before I started this business? Previously I worked as self-employed in a different but loosely connected business - gross salary was around £35k-£40k.

I'm hoping that I can get a mortgage with 40% LTV without too much hassle, have very good credit report etc but terrified because a few banks seem to hate me :rotfl:

Wh05apk

Tell the truth to the broker, take your accounts, most lenders base lending on salary + divs, subject to the accounts confirming the company is trading profitably, don't worry about predicted accounts from a lenders point of view, although you obviously need to happy the reduction will not cause you problems.

jimpix12

Thanks - No, the reduction won't cause any problems, the mortgage repayments will be a 1/3 of what I pay in rent