Remortgaging: Whats it like at the moment?

jd1000

Hello all, 
About to remortgage, LTV of about 35%. I'm a director of a ltd company (100% shareholder).
I've heard the market is really tough at the moment, and documentation requirements have greatly increased with lenders now wanting not just 2 years financials from me, but also for the company etc.
Can anyone tell me whats its like at the moment? Was hoping to use a mainstream lender like Santander or Nationwide. 
JD

K_S

@jd1000 As an example, these are the standard evidence requirements for Ltd Co. directors for Santander.

Generally speaking, at 35% LTV, for a like-for-like remortgage, I wouldn't expect it to be too painful unless there are relevant issues in the rest of the scenario.

jd1000

Thank you!
Not taking into account retained profits could hurt my chances, are there any lenders that do, or is that that across the board standard thing?

K_S

@jd1000 Not all will do, but there are lenders who will consider sal+net profits for Ltd.co directors. Other than the generic sal+divs approach, there is nothing standard for ltd.co.director lending. There are as many different lender approaches as there are company set ups.

getmore4less

Current lender?
Retention s are still the easy option.

jd1000

No current lender, remortgaging to pay off a loan that was given to help buy the house.

lonibra

Get a good MB on the case. From my experience, running a tax efficient limited company makes it unattractive to high Street banks for a lot of weird reasons. So you need good ones who know how businesses work. I also extract only up to 50k and retain the rest inside the company. It was a struggle until I found my current MB.

jd1000

Can I ask who your MB is?
I was thinking of going with London and County, because they had good reviews.