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Bounce back loan

iame
iame Posts: 2 Newbie
First Post
in Mortgages & endowments
trying to get a new mortgage. 
I'm a Limited company 1 employee  witch is me . Mortgage lenders are asking if you took out a bounce back loan and weather i recieved any grants. Is this right ?
Will it goes against mye  personal ?

Thanks gary

Comments

  • csgohan4
    csgohan4 Posts: 10,602 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    possibly, will depend on the details. I would strongly advise a broker to look at your circumstances. 
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • dunstonh
    dunstonh Posts: 121,122 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Mortgage lenders are asking if you took out a bounce back loan and weather i recieved any grants. Is this right ?

    Lenders are asking,yes.

    Will it goes against mye  personal ?

    Are they asking you as an individual if you took one out or are they asking you as a company director if the company took one out?


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • iame
    iame Posts: 2 Newbie
    First Post
    They got back to me today and as you took a bounce back loan and shut down over covid it shows you mybe in financial difficulties . There for it not possible to get you a mortgage. 
  • dunstonh
    dunstonh Posts: 121,122 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    iame said:
    They got back to me today and as you took a bounce back loan and shut down over covid it shows you mybe in financial difficulties . There for it not possible to get you a mortgage. 
    Go to a mortgage broker. There are lenders that are not being as negative on it as long as you remain viable and the lending retirements are not pushing limits.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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