FTB, 25% downpayment of £150k, who would be the best lender?

amihere

Hi,
As title suggest, we can afford £150k down-payment and wish to buy a flat at 600k.
One person earns about £70k and another the other one has a limited company and withdraws minimum nontaxable annual salary £40k (actually 10k+30k dividend).
I checked with Google Mortgage and kind of weirdly saw that Tesco Bank might offer us the best mortgage?
Who would you recommend as the best lender given this data?
Thank you!

betmunch

There's not enough info there to make a recommendation.

You need to do a full fact find with a broker to work out the best lender for you.

One thing I would consider though is if you are buying in London where everything needs to be done yesterday, is it the best rate or the quickest offer that's more important?

EDIT: Just realised you haven't said you are buying in London, the price made me think that!

ViolaLass

Why would you ask strangers on the internet? You have no comeback if I recommend something completely inappropriate.

amihere

I will obviously check any information... I just wish to have a general direction.

Yes, I do wish to buy in London actually!

libf

amihere wrote: »

I will obviously check any information... I just wish to have a general direction.

Yes, I do wish to buy in London actually!

If you need help with this, then engage a broker.

Magpie100

And on the subject of Tesco bank - we just completed on our house in August and mortgaged with them. Have been very impressed with everything - fast and hassle-free - and they even sent us a coolbag of moving-in goodies! I was initially sceptical but they have proved me wrong.

GMS

Does the Limited company have any retained profit? You may need to find a lender who would use this rather than salary and dividends if you have much in the way of outgoings.

It's not about the 'best' lender, it's about the correct lender for you.

Broker would be useful for sure.

amihere

"Does the Limited company have any retained profit? You may need to find a lender who would use this rather than salary and dividends if you have much in the way of outgoings."

Thank you. Yes it does. Any suggestion for a lender who might do it?

GMS

amihere wrote: »

Thank you. Yes it does. Any suggestion for a lender who might do it?

Wouldn't suggest any lender without knowing your circumstances.

A broker would be able to assist you. You may not need to use profits but an affordability check is the way to find out.