If you run your business as a limited company Director and you’d like to get a mortgage but don’t quite know where to start, we can help. Mortgages for Directors can be complex in some instances because of the way you must declare your income, and you typically need 12 months’ of trading history to be considered by mainstream lenders. Therefore, it’s occasionally more difficult for company Directors to gain a mortgage than their employees!
Fortunately, many lenders offer mortgages to limited company Directors, from banks and building societies to various specialist lenders. Criteria varies from one lender to another, but some specialist lenders will ask to see your accounts covering one full tax year, whilst multiple banks and building societies may require at least three years’ worth of trading history.
It’s essential to seek specialist advice if you’re looking for a limited company Director mortgage, and that’s where Create Finance can help. Our brokers have many years of experience arranging mortgages for Directors, and we specialise in assisting people through the more difficult yet rewarding mortgage journeys.
Create Finance is in regular contact with lenders who are willing to look beyond the tax assessment and take on an agile approach, using retained profits, accountants’ projections, and contracts to determine your affordability and eligibility. You don’t necessarily have to put down a larger deposit either. It depends entirely on your circumstances, but technically you will have access to the same offers as any other borrower. There are just a few more hurdles along the way than there would be for standard borrowers, and that’s why gaining specialist advice is very important from the outset.
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Create Finance Limited is registered with the Data Protection Act registration No. ZA129368 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 708799 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 786245 and registered with the Data Protection Act Registration No: ZA178200.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. The overall cost for comparison is 4.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
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