Employed by my own LTD Company

gazfocus

Ok, so let's say, I cease getting paid by the ltd company and I just get my full time wage from my employed position, then my wife gets a full time wage from my ltd company...

...would my wife's wage be treated any different to my wage? She will be employed, has no say (legally anyway) in how the company is run, etc.

ACG

Is your employed position with the ltd company?

gazfocus

ACG wrote: »

Is your employed position with the ltd company?

As stated in my first post, I have a full time job working for someone else, in addition to a part time job working for my ltd co.

Thanks

amnblog

There's the curve ball.

If you have 18 months accounts only next May you wont have many sources of lending that will consider the income from the business

ACG

I was just clarifying.

There is one lender i know of that will look at your case with less than 1 years accounts. There are 1-2 lenders who will look at with 1 years accounts.

But without knowing the LTV its difficult to say.

Im assuming your employed income is not enough to get you the mortgage you need?

gazfocus

amnblog wrote: »

There's the curve ball.

If you have 18 months accounts only next May you wont have many sources of lending that will consider the income from the business

Ok, thanks for your help.

ACG wrote: »

I was just clarifying.

There is one lender i know of that will look at your case with less than 1 years accounts. There are 1-2 lenders who will look at with 1 years accounts.

But without knowing the LTV its difficult to say.

Im assuming your employed income is not enough to get you the mortgage you need?

Thanks for all your help.

My employed income is as follows:

Basic Pay: £16,800
Bonuses: £8,100

My wife's employed income from my ltd co is:

Basic Pay: £13,520

Mortgage we'd like to get would be £99k (based on a house price of £124k so just under 80% LTV)