As a limited company director, you may receive salary, dividends or retain profits in your business. RMJ Mortgages understands that this can make your income appear different from that of a traditional employee.
How Do Limited Company Director Mortgages Work?
Directors with significant company shareholdings are often treated as self-employed by mortgage lenders. Some lenders use salary and dividends; others may consider a director’s share of company profits.
How Much Can You Borrow?
Borrowing depends on income, credit history, financial commitments and affordability. Lenders may review company performance and earnings over several years. Retained profits may be relevant with certain lenders.
What Documents Will You Need?
Lenders may request company accounts, tax calculations, tax year overviews, salary and dividend evidence, bank statements and shareholding details.
What If You Have Recently Started Your Company?
Many lenders prefer two years of accounts, but some consider shorter trading histories. Previous experience and business performance may help support an application.
How We Can Help
We can explain how lenders assess company director income and help you explore suitable products. Contact RMJ Mortgages to discuss your mortgage requirements.
Important Information
Your home may be repossessed if you do not keep up repayments on your mortgage.
