Limited company mortgage accounts

subcapsular

Hi I am in the process of applying for a mortgage, me and my partner are directors of two limited companies.

one company has been running for 10 years plus.

the second has been running for 3 years.

for the second company I have two years filed accounts.

the third year accounts (ended yesterday) will
not be completed and filed until around July time next year.

This is due to the business being part of a large franchise so at the mercy of them being audited etc and submitted by Ernest hacker.

accountants certificate asks for three years income etc.

will it suffice for my accountant to put all the figures for year end 2024 even through these accounts aren’t signed of and submitted with companies house for another 6 months or so?

Hoenir

subcapsular said:

the third year accounts (ended yesterday) will
not be completed and filed until around July time next year.

Shouldn't take 6 months to have year end accounts prepared and finalised. Filing them is a different matter. 

subcapsular

Unfortunately my company accounts do seem to take
forever, they are usually filed in the following September and have been for the last 6-7 years.

having them prepped may be sooner but will still be 2-3 months at minimum but I’m applying for my mortgage now!

ACG

Can you go to a different lender? 
Most lenders only need 2 years figures. 

amnblog

As suggested by ACG, are you with the right Lender?

Many Lenders will work on 2 years figures.

Also, some Lenders will not treat income form the two Companies equally.

subcapsular

It’s a self build mortgage so restricted to limited lenders. I have management accounts complete for the year just not stat accounts ready for submission 

ACG

You need to speak to the lender. 
Only they can give you an answer which is specific to them. Self build lenders are usually small lenders, they do tend to have more flexibility in making allowances but you need to get the answer from them directly. Maybe suggest getting a letter from the main company to back up what you say?