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Are you a director of a limited company?
Strictly speaking, for tax purposes, directors of limited companies are classed as employees. However, mortgage lenders take a slightly different view.
Typically, if your shareholding in the limited company is less than 20%, you are treated as an employee of the company and your income will be calculated around your salary and any bonuses.
If you hold more than 20-25% of the shares, you will be treated as self-employed and your income will be determined by your salary plus dividends in the last tax year.
If you have decided not to draw all of your profits as dividends, we have access to some lenders who are prepared to consider your salary plus your company's net operating profit.
Simply call us to see if we can find a suitable mortgage deal for you.
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