At JG Mortgage Services Limited, we have plenty of experience in helping limited company directors apply for a mortgage while getting a great deal for it.
Mortgages for company directors differ because lenders must assess your income differently.
Instead of relying solely on payslips, they will look at a combination of salary, dividends, and sometimes retained profits in the business.
This unique income structure means your financial profile may seem complex to traditional lenders, requiring a more tailored approach to find the right deal.
Eligibility as a company director largely depends on factors such as your trading history, income level, credit score, and deposit amount. Most lenders prefer directors with at least one to two years of trading history, although options may exist for those with shorter timelines.
Additionally, your financial records, including accounts and tax returns, must demonstrate a reliable income.
Proving your income as a company director also involves submitting documentation that shows your salary and any profits.
Lenders may also want to look at your company’s financial performance to ensure the business is stable and capable of supporting your income. Tax returns, SA302 forms, and bank statements are commonly requested to verify these details.
Your trading history is important to determine your mortgage eligibility as a limited company director. Most lenders require at least one to two years of filed accounts to assess your business’s profitability and stability.
Accurate and up-to-date financial records, prepared and reviewed by a qualified accountant, are incredibly important to prove that you can be trusted with a loan.
At JG Mortgage Services, we specialise in assisting company directors with securing the right mortgage. We understand the issues you face when trying to get a mortgage as a Limited Company Director.
Our team can get you in touch with a wide range of lenders who are experienced in dealing with self-employed applicants. We try to simplify the application process for you as much as we possibly can. If you need some expert advice on mortgages, please don’t hesitate to reach out to our team.
