Company director & buying house with 10% deposit

matthewpoll13

I would like to buy a house, but not sure if I can get a mortgage with a 10% deposit. Here are my details:

- I'd like to buy a house worth £150,000 (got 10% deposit)

- I earn £35,000 (salary & dividends)

- Age 22 & will be buying alone

- My limited company has 3 years accounts

- Just me. No employees.

Can I buy a house /flat with 10% deposit, since I am a company director? Will I need a bigger deposit, or is this possible?

Thanks!

ACG

Flat will be difficult (but thats the same for anyone with a 10% deposit).
A house will be possible with a 10% deposit subject to everything else being acceptable (credit history, income etc)

matthewpoll13

ACG wrote: »

Flat will be difficult (but thats the same for anyone with a 10% deposit).
A house will be possible with a 10% deposit subject to everything else being acceptable (credit history, income etc)

Thanks. Why would a flat be more difficult than a house? Just curious.

ACG

Sorry ignore my post... i was reading an email at the time (and watching coronation st... i knowwww im sad)...

90% on a flat should be possible, some lenders might not like but in the main it should be fine. Its new build flats (which is what i was reading on the email) which is the biggest issue.

matthewpoll13

Thanks. Hope the Platts are written out, after tonight.

ACG

Could you imagine if gail was the only one left! how much bad luck would that be! So long as Kylie stays i wont complain :P