Bit of help, FTB'r... 31 January 2013 at 9:54PM edited 30 November -1 at 1:00AM in Mortgages & Endowments 5 replies 496 views

FTBer

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.

ACG

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?

FTBer

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.

ACG

Why was there a dip?
Thats something that may cause lenders some concern.

FTBer

Company was only formed that year, but has risen since.. so hopefully will look more ideal...

ACG

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).