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Too many shares!
John198
Posts: 1 Newbie
Hi, I am currently looking at going for a shared ownership property for around £90K for 50% share.
I have ok deposit of 20K and earn 30K a year.
Downside is I am a company director and own just over 25% of the company, so will be treated as self employed rather than employed.
As employed with pay cheques I think it would be easy to get the 70K mortgage required. However as self-employed I don't think our company accounts would be good enough + I was on less than 30K last tax year.
My partner is a mum / self employed and earns far less so will have no chance getting a mortgage.
I am looking at ways in which I can transfer a few % of shares to either a business partner or family in order to get below the 25%.
Has anyone else been in a situation like this before?
Thanks
I have ok deposit of 20K and earn 30K a year.
Downside is I am a company director and own just over 25% of the company, so will be treated as self employed rather than employed.
As employed with pay cheques I think it would be easy to get the 70K mortgage required. However as self-employed I don't think our company accounts would be good enough + I was on less than 30K last tax year.
My partner is a mum / self employed and earns far less so will have no chance getting a mortgage.
I am looking at ways in which I can transfer a few % of shares to either a business partner or family in order to get below the 25%.
Has anyone else been in a situation like this before?
Thanks
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