Ltd company directors - do I need to disclose all companies?

917700

Hi 

I current have two companies, I am just wondering can I only rely one company for mortgage? Do I need to disclose all of them?

On my SA302, 100% income came from Company A in 2018-2019. Then 90% income came from Company A, and 10% income came from company B in 2019-2020

I own 100% share of company A. And I own 80% share of company B, my wife owns 20% share of company B.

My wife is employed in company A. She is a company director of company B, but she doesn’t receive any salary or dividend from company B.

I know the application is complex for self employed. Can I only rely on company A to apply mortgage?

thanks for any advice 

pjread

I would declare both, it's already complex with one and if you don't there's a risk something flags with lender or solicitor and makes them worry what you're hiding.  Why don't you want to?

If you had straightforward PAYE income covering everything an a tiny trickle from a company there might be an argument to keep it simple and not declare that (as it's easy if queried to validly say "Well it's an insignificant proportion of my income and I'm not certain I can rely on it, so I assume I'll get nothing from it")

Thrugelmir

Non disclosure simply raises more questions and suspicions. 

[Deleted User]

If you supply company A accounts and personal sa302 then the numbers wont match and you will be asked for company B accounts.
Best to supply all at the start and avoid delays 

917700

Thanks for the advices.

The reason is we are taking small amount of income from Company B. Both my wife and myself hold shares in company B. And my wife will be classified as Self employed. 

If I don’t disclose company B, she will simply be considered as an employee.

MWT

It takes a few seconds on Companies House to pull up a list of all the companies that have you or your wife listed as an officer...

Take advice from your broker, but it is never good to withhold information that is so easy to check...