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Bit of help, FTB'r...
FTBer
Posts: 3 Newbie
Trying to get to grips with all i need to know but have a few questions...
I am paid via salary/dividends so finding it hard using the online calculators to find out what sort of mortgage i may be able to get.
So thinking that my best bet is to go down a broker route, (although having spoken to 2 already that had no idea about salary/dividends..)
I am also not quite understanding the difference between an IFA/Broker, are either of them better to go too?
Are there any lenders who are better at understanding salary/dividends? Santander wouldnt even lend me 60k....
Thanks in advance.
I am paid via salary/dividends so finding it hard using the online calculators to find out what sort of mortgage i may be able to get.
So thinking that my best bet is to go down a broker route, (although having spoken to 2 already that had no idea about salary/dividends..)
I am also not quite understanding the difference between an IFA/Broker, are either of them better to go too?
Are there any lenders who are better at understanding salary/dividends? Santander wouldnt even lend me 60k....
Thanks in advance.
0
Comments
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Santander are useless for the self employed.
An IFA is a Broker - IFAs arnt really interested in mortgages in the main, although they can do them.
How much do you take as wages/dividends (for each of the last 2-3 years)?
How much of the company do you own?
How is the company doing?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Ah ok, makes a bit more sense now.
And i thought as much, santander are pretty much useless with anything....
Salary: 8k
Dividend: Year1: 5k Year2: 9k Year3:9k (only a 5% share)
Company doing very well.0 -
Why was there a dip?
Thats something that may cause lenders some concern.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Company was only formed that year, but has risen since.. so hopefully will look more ideal...0
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Sorry i miss read - i thought £5k was the most recent year.
I would say you would be looking at around £60-70k (probably closer to the £60k though).I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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