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Mortgage advice for Ltd company director?

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Comments

  • amnblog
    amnblog Posts: 12,766 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    itsD wrote: »
    Thanks for all the advice guys – much appreciated. Just had an additional question.

    We've been talking with a broker who looks to have got us an AIP, however he seems to be struggling...

    Although I have been a director for 2 years now, our business year runs from July-July. It appears that lenders will only consider 2 complete years (signed & submitted) accounts vs. 2 years worth of accounts. Is that correct?

    Are you saying you have not been trading for two years, do not have two years accounts completed, or both?
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • itsD
    itsD Posts: 17 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    amnblog wrote: »
    Are you saying you have not been trading for two years, do not have two years accounts completed, or both?

    Sorry - confusing...

    The company started trading in 2010.
    I joined as director at the end of April 2012.
    Our year end is the end of June.

    So the business has 3 years full accounts (June 10—June 11; June 11—June 12; June 12—June 13). Only years 11/12 & 12/13 have my name listed as director.

    Does that make sense? :huh:
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