Residential director

eurobabe

H I'm a residential director of a non profit making company that maintains our housing estate.Im just a representative for the residents, so have a say on what areas get maintained and the costs we get charged. Is this in anyway going to affect my mortgage application? I was considering just resigning as a director so it wouldn't have any affect, as I'm likely to be applying in next couple of months.Would resigning as director also have a negative impact?

badmemory

I don't know.  But it strikes me that all a mortgage company is interested in is in the maintainance of the value of the property they are mortgaging.  I would have thought that being residential director would be a way they have of ensuring that rather than the opposite

tacpot12

If they undertake a search of Companies House, they might find you are a director and ask questions about your directorship, e.g. whether you derive any income from it. They might also ask if you have any liabilities as a result of being a director or shareholder, but I doubt they will do so. The company provides the vehicle to limit shareholders liability, and I doubt you have any personal liability that isn't covered by an insurance policy that the company takes out. 

eurobabe

Thanks both I think I'll just resign anyway so it doesn't start raising queries at application 

MEM62

eurobabe said:

Would resigning as director also have a negative impact?

Neither resigning or remaining will have any impact on your mortgage application.  The lender will not be interested one way or the other.,  

eurobabe

MEM62 said:

eurobabe said:

Would resigning as director also have a negative impact?

Neither resigning or remaining will have any impact on your mortgage application.  The lender will not be interested one way or the other.,  

Thanks how do you know that?

MEM62

eurobabe said:

MEM62 said:

eurobabe said:

Would resigning as director also have a negative impact?

Neither resigning or remaining will have any impact on your mortgage application.  The lender will not be interested one way or the other.,  

Thanks how do you know that?

Because it is not relevant to your mortgage application.