Remortgage - Halifax

Purple_Rain

Hello To All Honourable Experts

Please give us best advise on remortgage.
Currently with Halifax - 2 years fixed @ 2.59% going to be end in Dec 2019
I was the company Director at time of mortgage ( Dec 2017 ) and my wife was employee in my company, Now we changed the directorship reverse now she is director and I am employee due to our circumstances, around 1 year ( Jan 2018 ) 2 years fixed periods ends Dec 2019.
I have been told we have to be stick with Halifax as they need at least 2 years old of company`s director name ....What is the best advice for us either to stay with Halifax and wait what they offer when fixed period ends...

Please advice - Thanks on Advance.

[Deleted User]

You can log in to thr mortgage via the website and see what deals they are offering.
Compare to the deals on the mortgage best buys and see if it's worth looking in to.
Personally, I can't see it working anywhere better than Halifax. Some lenders may do it as an exception if it was done purely for accounting reasons but they probably won't be better rates than Halifax

Mortgage_Adviser

Deleted_User wrote: »

You can log in to thr mortgage via the website and see what deals they are offering.
Compare to the deals on the mortgage best buys and see if it's worth looking in to.
Personally, I can't see it working anywhere better than Halifax. Some lenders may do it as an exception if it was done purely for accounting reasons but they probably won't be better rates than Halifax

JMA, I am confused with your comment tbh. Although there are many things Halifax are brilliant at, their retention deals are among if not the worts on the high street.

[Deleted User]

Mortgage_Adviser wrote: »

JMA, I am confused with your comment tbh. Although there are many things Halifax are brilliant at, their retention deals are among if not the worts on the high street.

Completely agree their retention deals aren't great (unless it's a big mortgage) but who else is going to single year accounts at a better rate? Precise, aldermore, Kensington are the main ones that jump to my mind for single year accounts. Perhaps virgin as an exception but depends on the overall case.

I was just saying that it's worth seeing what Halifax offer. It might be a 500k mortgage in which case halifax are usually OK. Or it might be a 50k mortgage in which case the interest rate difference isn't going to be seen in monthly payments

kingstreet

Your tax calculations break down into employed earnings (such as director remuneration) and limited company dividends so I'm struggling to see how change from director to non-director or vice-versa is going to change your incomes; unless that's something you've done as well but haven't mentioned?

Who are the shareholders? Has this changed?

What has happened to the company's profits in the last two years and what is on your 17/18 and 18/19 tax calculations?