SA302 not needed? but requested any way?

Stuartstanworth

Hi,
My wife and i are first time buyers and have our DIP. We are in the process of getting the underwriters to send our full mortgage offer through. However they are asking now for my wife's SA302. She has never filled a Self assessment tax return in as she has never needed to. She pays all tax PAYE. 
The complication is she is a director on our limited company but does not take any Dividends. 
Can my mortgage broker push that we do not need / require it?  (We are applying with natwest) 
The Housing estate are pushing us saying we need to turn the mortgage offer over by next week and even though we have applied to submit self assessment i am worried we wont get it before then.
has anybody had this situation?
Regards,

[Deleted User]

Whats your wifes shareholding in the company? 

This comes up quite often with directors who only take salary.   No easy way around it apart from checking with the lender prior to application.   They are always a nightmare to get through in my experience.   I usually use lenders that work off full accounts rather than sa302 documents

917700

If she owes more than 20% or 25% share, then she will be considered as self employed by lenders. 
However, I remember all company director need to file self assessment. It's better to check with an accountant.

Stuartstanworth

Deleted_User said:

Whats your wifes shareholding in the company? 

This comes up quite often with directors who only take salary.   No easy way around it apart from checking with the lender prior to application.   They are always a nightmare to get through in my experience.   I usually use lenders that work off full accounts rather than sa302 documents

We are 50/50 ,
 Accountant tried to argue that we didnt need it. Taking up valuable time. Broker said we do.
Im stuck in the middle waiting feeling both can do more!
i suppose i will plea for a little bit of time.

[Deleted User]

Natwest will require the sa302.  Accountant is correct that it is not needed for tax purposes, but for lending purposes Natwest will treat her as self employed and require the standard self employed documentation. 

HMRC can produce these documents for directors on paye only,  accountant needs to do a bit of work to get them or the broker needs to pick a lender that wouldnt ask for them.   A lender that works purely on accountants references would have been better