mortgage application - business ownership problem

edjs

Hoping someone might be able to help me out of a sticky situation.

Story is: I'm looking for a mortgage which takes into account my salary plus retained profits within my business, there are a few lenders who do this.

The problem being that whilst the company is 100% mine, when it was set up my father was added as 50% shareholder, no logical reason why this was the case, possibly bad advise from accountants. I've now come to apply for a mortgage and lenders are telling me they can only accept 50% of my profits. I've explained the situation that my father has never had anything to do with the running of the business and he's never taken any money from it.

Initally both Yorkshire bank and Virgin said it's no problem as long as I get a letter from my accountant explaining the situation. I provided the letter and both said there had been a mistake and they couldn't do it after all.

I need 100% of the profits to be used for affordability reasons. I have seen people have had similar (if not identical problems) so am hoping someone can offer a solution or suggest a company who may be able to see common sense here.

Thanks in advance

YHM

Definitely a job for a broker. Niche, non-score card lenders may be able to help