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Ltd Company Director

Elise1912 · 2019-04-10 08:58:51

Does anyone have any experience getting a great deal on a mortgage when they are the Director and Employee of their own Limited company? Often, profits are kept in company accounts, reinvested or saved. Paying out minimal 'wages' to themselves for income tax purposes. But most mortgages usually ask for salary instead of…

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pjapk Posts: 83 Forumite

12 April 2019 at 9:26PM

Depends what your business is/does. I'm also a Ltd company director but as an IT contractor and IT contractor mortgages are available based purely on multiples of contract day rate, quite crazy amounts in fact (way higher than I would dream of committing to!) and this is the route I'm going to be going down once I work out what I'll be doing re refurbing/selling my current property.

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