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HSBC mortgage - self employed
Roboyle
Posts: 1 Newbie
Hi
Just wondering if anyone here has had experience getting a mortgage with HSBC as a director of a limited company but with only 2 years accounts ?
My company has been running for 2yrs and 4 months so I only have 2 years accounts. I have a forecast for this year based on the 1st 4 months of the year. My dividends and wages come to around £42k and I am looking to borrow as much as they will give me ( which they have said on their decision in principle is £187k). I passed the credit check ok and now they have sent my application to their underwriters. Will the underwriters say no straight away because of only having two years accounts or will they take into account that I have a LTV of 49% ?
I'm getting very nervous about it as I had my offer on a house accepted (first time buyer) and I obviously don't want it to fall through. Its so frustrating that is may be an issue given that I will have no problem whatsoever paying the mortgage. It will probably be cheaper than the rent I am currently paying !
Any comments or tales of similar woes would be greatly appreciated.
Just wondering if anyone here has had experience getting a mortgage with HSBC as a director of a limited company but with only 2 years accounts ?
My company has been running for 2yrs and 4 months so I only have 2 years accounts. I have a forecast for this year based on the 1st 4 months of the year. My dividends and wages come to around £42k and I am looking to borrow as much as they will give me ( which they have said on their decision in principle is £187k). I passed the credit check ok and now they have sent my application to their underwriters. Will the underwriters say no straight away because of only having two years accounts or will they take into account that I have a LTV of 49% ?
I'm getting very nervous about it as I had my offer on a house accepted (first time buyer) and I obviously don't want it to fall through. Its so frustrating that is may be an issue given that I will have no problem whatsoever paying the mortgage. It will probably be cheaper than the rent I am currently paying !
Any comments or tales of similar woes would be greatly appreciated.
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