employed or self-employed???

joe1978

Hi all, first time poster long time lurker...

I started working for myself in nov 2005. I am the sole director of my ltd company and I am the sole employee. I'm paid by minimum monthly PAYE with wage slips and the rest as dividends. My income is helathy and I earn more doing this than being employed, ( I am a pharmacist).

I'm now applying for a loan for the first time since my work has changed (to pay off current car loan and purchase new one) and was wondering could the fact that I declared self employed be why moneyback quoted me 8.5% APR on a £20k loan/60 months? :eek:

Can I declare that I'm employed, which technically I am, to achieve a better rate?

My rating is good, but I have moved house, opened a new current account and applied for a new credit card (for balance transfer) in the last 6 months.

ta

joe

7633377

Hi Joe,

I myself own my own limited company and you would not believe the amount of companies including banks the say your self employed.

The truth is you are employed as a director, so i see no harm in saying that you are employed as it's the truth.

I have just recently re-mortgaged and i had to fill a employment declaration from the mortgage company as an employer for myself, declaring earnings and pensions etc. It did not feel right as i could of filled anything out to boost status.

I hope this helps

Paul