Company director applying for a mortgage

Matt_watson

Hi all.

I'm unable to find this info on line.
I have been in full time employment for years and have recently became a company director in a new business venture.
I am still in full time employment with another company on a salary.

Does anyone know how or if this would effect my mortgage application ?

Many thanks all

Matt

muhandis

I would think your company director role would only feature if you need to use that income for your mortgage.

If your mortgage is solely based on the normal full time PAYE employment with another company, it shouldn't affect it either way.

Matt_watson wrote: »

Hi all.

I'm unable to find this info on line.
I have been in full time employment for years and have recently became a company director in a new business venture.
I am still in full time employment with another company on a salary.

Does anyone know how or if this would effect my mortgage application ?

Many thanks all

Matt

Matt_watson

Thank you muhandis, that makes sense.
Just need to be clear on it. It's a hard answer to find on the net.
Will call bank and check with them also.

ACG

If you still have your full time job and plan on remaining in it, then it would be a case of a normal application and just not putting on the business details as the income would not be needed (presumably) not accepted if it is a recent start up.

However, SOME lenders do a companies house check as standard and it could raise questions.

I would expect you to be able to get a mortgage and at normal rates, but some lenders would make a meal of it.