BTL Mortgage Needed, Salary and Dividends

whitep

Hi All,

I have a dilemma. I am a director of a company taking my income as a mix of Salary and Dividend. I am having trouble remortgaging a BTL property where I am being stuffed 6.99% when I know there are better deals out there.

Can anyone advise any lenders who don't just calculate the rate on main earners income?

GMS

Speak to a broker. Many BTL lenders are broker only.

Let_Us_See

whitep wrote: »

I am being stuffed

You certainly are, unless there are problems (certainly, not salary) that you have failed to mention. Go to a broker who should easily source a more competitive lender.

MLSY

Hi whitep

Most lenders will base on rental income calculation alone but will want a minimum income in the background . What is your income ?

anselld

MLSY wrote: »

Hi whitep

Most lenders will base on rental income calculation alone but will want a minimum income in the background . What is your income ?

Income is probably £5750 pa for the avoidance of tax and NI.

That is a drawback of tax avoidance through limited Company structure. However a broker should be able to find a better BTL rate based on the rental income.