Nationwide Mortgage - Accountants Certificate

NUC

jason.parker.86 wrote: »

Sorry to ask such a silly question, but would accountants certificate take into account "earnings not taken" i.e profit retained with my company.
J

no because the profit you retain is in the company's bank account and is for the company.

ACG

Ive just replied to your post on another forum, theres a little more info on here than the other place.

The amount you can borrow is based on your ACTUAL earnings, not what you could potentially earn. Officially that money belongs to the business, so if it went under overnight any debts outstanding would get paid out of the money in the companies bank account.

Let_Us_See

If you own 100% of the limited company then Nationwide will usual work of the net profit for mortgage affordability. Drawn dividends can also be taken into account, but the underlying net profit has to support any dividend, drawing or director's salary.

Thrugelmir

Withdrawing the profit will incur a tax liability in some form.

jason.parker.86

Thrugelmir wrote: »

Withdrawing the profit will incur a tax liability in some form.

Yeah but how it comes out of the company is left to my accountant.
Regarding the company- Myself and brother are shareholders- however his shares dont have any voting rights so assume that means i own the company outright?