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Help finding a mortgage lender as a Contractor
FlaatusGoat
Posts: 292 Forumite
Can anyone recommend any lenders for someone who works as a Contractor, i.e own a Ltd company and works through that on a solo basis. Most lenders expect earnings as an employee but my income is very low (I take my earnings via Dividends)
I'd rather not use a broker if I can instead go to a bank directly. If you specify the above they often don't understand and still try and make an offer based on salary not company income.
Thanks
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Comments
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Some lenders work from daily rate. Others from salary and dividends. Others still work from post-tax net profit.
You may not want a broker, but most of us know the difference in the above and would source a lender based on the best route for you based on the evidence of income we have.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
FlaatusGoat said:Can anyone recommend any lenders for someone who works as a Contractor, i.e own a Ltd company and works through that on a solo basis. Most lenders expect earnings as an employee but my income is very low (I take my earnings via Dividends)I'd rather not use a broker if I can instead go to a bank directly. If you specify the above they often don't understand and still try and make an offer based on salary not company income.Thanks0
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