Self-Employed driver and mortage

Mortotron

Hi all,

I am considering becoming a self employed driver (HGV).

Although I will be Director of my LTD company, I will also be an employee of my LTD company.

With regards to obtaining a mortgage, will this be problematic as opposed to just working as an employee of a main company and paying tax through PAYE?

I have been a Director/Employee before and my wageslips had the title of Employee and I paid PAYE this way. I y eyes there doesnt seem to be any difference but obviously I'd like some clarifiction on this if anyone can help?

Many thanks in advance.

bugslet

Finally someone takes my advice:p - hope you get an answer

Albion:)

ACG

If you own more that x% of the company (typically 25%) then yo uwill be classed as self employed for mortgage purposes. You will need to evidence at least one years accounts.

amnblog

Once you have two or three years Accounts and provided you are profitable there should not be too much difficulty.


If you need a mortgage in the first two years it becomes much more difficult - you do need a track record.