Company directors can look at taking out a mortgage just as easily as a full time employee. Our specialist mortgage advisors can discuss your income with you fully to work out the best way for you to get a mortgage. While some directors will draw their income from the business as dividends and salaries, other people will look to keep the profit in the business. Lenders will look at different areas including some lenders that can consider the profit for your affordability.
What is the difference to getting a mortgage as a company director?
When we are looking at mortgages for company directors, our specialist advisors can look through your income streams to establish the best mortgage lender. We can look at focusing on getting you the best mortgage deal or at getting the most from the affordability on the mortgage.
How can I find the best mortgage deal as a company director?
Here at Willow Brook Mortgages we will do the hard work for you. You will be assigned a specialist mortgage advisor who will discuss your income and personal details. With access to over 100 lenders we can then establish the best mortgage deal for you.
Can I still get a mortgage if I am looking to minimise tax
Some lenders will consider the profit that your company has received which can help to utilise your full income received. At Willow Brook Mortgages our independent mortgage advisors can look at the best way to understand your income and ensure that your hard work pays off when getting a mortgage.
Can I get a mortgage if high street lenders won’t offer me the mortgage
This will depend on the reason why a high street lender wont offer you a mortgage. We can discuss this in more detail on your personal circumstances. Some high street lenders are focused on the straightforward mortgage and will only consider your salary and dividend payments. Our Independent mortgage advisors at Willow Brook Mortgages can look through the different options for you.
What documents are required to get a mortgage as a company director?
Lenders vary on whether they will require your accounts or your tax returns to show your income. Our independent advisors will look through the options for you to find the best mortgage deal. We will then request the documents that the lender will require to support your application. All lenders will also require your personal and business bank statements when applying for a mortgage.
I have only been a company director for 1 year, can I get a mortgage?
There are some lenders who will consider your income once you have been self employed for a year. You will often require a projection from your accountant for the 2nd year which normally requires you being a few months into the 2nd year.
Other scenarios include where people buy in to a business that has been running for a longer timeframe or change from a sole trader to a limited company. Our advisors are experienced in this area and will be able to discuss your individual requirements to find the best mortgage deal.
I’m on a fixed rate mortgage, can I still look at securing the best remortgage deal?
Yes in short you can look at the best remortgage deal at any time. Most people look at securing the best remortgage deal 6 months before their current deal ends. There are lenders who will provide mortgage offers for up to 6 months. You secure the interest rate on application and so this is then secured for the offer period as well. Here at Willow Brook Mortgages we offer a rate check facility as well which means that if a better interest rate become available before you complete on the mortgage we can change across to this. This ensures that you get the best remortgage deal. If you do complete before your current deal comes to an end you might have a fee to leave your lender but this can be added on to the new mortgage if you chose to.
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