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Bit of help, FTB'r...

edited 30 November -1 at 1:00AM in Mortgages & Endowments
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FTBerFTBer Forumite
3 Posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
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.

Replies

  • ACGACG Forumite
    21.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
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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 Adviser
    You 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.
  • 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.
  • ACGACG Forumite
    21.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
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    Why was there a dip?
    Thats something that may cause lenders some concern.
    I am a Mortgage Adviser
    You 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.
  • Company was only formed that year, but has risen since.. so hopefully will look more ideal...
  • ACGACG Forumite
    21.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    ✭✭✭✭✭
    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 Adviser
    You 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.
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