Reducing dividend income + rental payments = problem

anticlaus105

I receive a large part of my income as dividends from the company I own. Over the last 3 years this income has decreased, part due to me actually working less, and also last tax year due to me paying a much larger salary to trigger NI payments. My overall income though has remained fairly similar.

I have just returned from a preliminary interview with YBS and they would not consider my dividend income, due it reducing over the last 3 years. They also wouldn’t consider the rental income I receive from the building I own (with a small business loan attached) but also occupy. Overall this greatly reduced what they would be willing to lend.

It may be time to visit a mortgage broker or my bank, but does anyone know of lenders where the above will not be such a problem?

ViolaLass

I agree, time for a broker.

ACG

Without any figures its difficult to say but on the face of it im sure it can be overcome at normal rates. Its just a case of finding the right lender.

Find a broker and im sure you will be fine.