2nd mortgage for new business owner

libanna · 6 April 2021 at 1:30PM

Hi everyone, I have been reading the forums here and the advice I've seen has been really helpful. I'd appreciate any further advice that forumites can give.
I have a property I'm selling with a current mortgage of 220K - the property is on the market at 620K. Mortgage term expires end of Jan 2022. We have some potential buyers interested, no solid offers yet. £10K early redemption fee.
I have found a property I want to make an offer on - on the market at £385. I've been considering whether I could take out a second mortgage on my current property or a bridging loan to make sure I can secure it to avoid getting stuck in long chains. After reading the forums over the weekend, I can see that the advice is NO on the bridging loans. Which leaves me with the second mortgage question.
Looking at the past 3 years of finances, I've got 1y and 9 months of accounts as a new business owner. The business has done well, but I'd need a mortgage that would consider the business profit rather than just the salary and dividends I receive. Prior to setting up a business, I was employed f/t, same company for 10 years. I could also take out some dividends from the business to get a better LTV on the second mortgage.
I realise that some of the forum mortgage experts here are also mortgage brokers. I'd be grateful for any advice, tips on which brokers to use (I've previously used L&C for all 3 mortgages) given my circumstances.