Mortgage - Director in your own company

harvey115

Hi

Thanks for the advice guys.

Here is where I stand currently in my salary point of view:

Dividends = £31,750 Annually
Salary = £7,200 Annually

So the above puts me in the £42K bracket of tax rate.

As for the mortgages so far.

NatWest called me up an hour ago to discuss the mortgage further. The advisor basically said they will not be including my company's profit in the calculation for the mortgage I can get. However the accounts will be very important. He mentioned that they usually look for 2 years worth of accounts but if my accountant can give them projections for the second year, that could work as well.

He came up with £300K to £340K that I can apply if I apply with a second applicant (my wife, who will be on a Settlement 'Spouse' VISA) having earnings of £42K as well.

Although the above looks okay, I am entirely sure if the advisor from NatWest was correct. I have doubts if my application gets passed through them now.

I am now getting back slightly and possibly going to wait for a bit before I apply for a mortgage, as our plans have changed slightly to wait a bit. However once I am ready to go, I would possibly be using contractorMoney people of MortgageMonitor. Please do let me know if you have experiences with either of these brokers.