Loan with best chance of getting?

[Deleted User]

£64million question I suppose but.....

Credit record - excellent.
Income - excellent (but complicated by the fact that I run my own limited company so theres no usual salary as such).

Any ideas? What I dont want to do is screw things up by applying for loads of loans and getting searches on my credit reference account.

Dabooka

Most people would suggest starting with your own bank who'll see your financial activity every month. And I suppose you'll have statemented accounts showing your salary anyway?

BugsyBrowne

[quote=[Deleted User];discussion/4375463]£64million question I suppose but.....

Credit record - excellent.
Income - excellent (but complicated by the fact that I run my own limited company so theres no usual salary as such).

Any ideas? What I dont want to do is screw things up by applying for loads of loans and getting searches on my credit reference account.[/QUOTE]

Any credit history?

dresdendave

[quote=[Deleted User];discussion/4375463]£64million question .....

.[/QUOTE]

Is this the amount you are looking to borrow?

rdwarr

[quote=[Deleted User];discussion/4375463]I run my own limited company so theres no usual salary as such).
[/QUOTE]

Dabooka wrote: »

And I suppose you'll have statemented accounts showing your salary anyway?

There's the issue. People will lend to a person based on their personal income. If there's no salary then they will assume that either you're making no money or that you are making good money but avoiding tax by not going through PAYE.

I was in a similar position (although I did pay a proper salary) and the bank said "No" because of the way money transferred from the Company account to the Personal one. It was daft.

In the end credit cards were fine for short term, mortgage for long term, save up for it best

[Deleted User]

BugsyBrowne wrote: »

Any credit history?

Yep. Tons for the last 20 years - all no problems.

[Deleted User]

rdwarr wrote: »

There's the issue. People will lend to a person based on their personal income. If there's no salary then they will assume that either you're making no money or that you are making good money but avoiding tax by not going through PAYE.

I was in a similar position (although I did pay a proper salary) and the bank said "No" because of the way money transferred from the Company account to the Personal one. It was daft.

In the end credit cards were fine for short term, mortgage for long term, save up for it best

LOL. Perfectly legit way to organise tax affairs. :-)

To be honest, I'm an IT contractor and there are quite a few of us about.

rdwarr

[quote=[Deleted User];58406729]LOL. Perfectly legit way to organise tax affairs. :-)

To be honest, I'm an IT contractor and there are quite a few of us about.[/QUOTE]

I was for 28 years as well Did just the same as you but took my first "proper" job at the age of 50.

Sadly the advent of IR35 plus 2012 becoming "the year that tax avoidance became immoral" has changed the way people look at things. It was only really my own bank whi cut up rough but it's fair to say that I get more offers of credit as a 40k permie that I ever did as an 80k temp

jonesMUFCforever

rdwarr wrote: »

I was for 28 years as well Did just the same as you but took my first "proper" job at the age of 50.

Sadly the advent of IR35 plus 2012 becoming "the year that tax avoidance became immoral" has changed the way people look at things. It was only really my own bank whi cut up rough but it's fair to say that I get more offers of credit as a 40k permie that I ever did as an 80k temp

That makes sense to me - a permament salary is 10 times better than a temp.
Your bank can see ''salary'' payments into your account + any dividend your company has declared.
Depending on how much you want you should be ok.