Ocsltd 133 Posted September 29, 2016 I appreciate this isn't directly related, but looking for some advice / tips from fellow dealers who have been in a similar situation..... My wife and I are desperate to get on the property ladder! My business is a limited company and I am the sole director. As I'm sure like most of us, I try to be as tax efficient as possible, so pay myself a 'basic' salary. I haven't taken a dividend as I try to re-invest any 'profits' back into the business. (I'm a fairly small business). We are fully aware we need a sizeable deposit, which we are working really hard to save, but my question is, how did you guys do it? I'm looking for people who have done it recently, before the good 'ol days where you could self certificate. I've been trading for around 5.5 years, but bought my business partner out around 2 years ago, so the books don't look great, at the moment...... Are there any tips for getting a mortgage? Any specialist brokers / lenders who are more sympathetic to car dealers? Any lenders who will work off one years 'good accounts'? Apologies this isn'y directly trade related, but thought this was the best place to ask! Any advice greatly appreciated!! Share this post Link to post Share on other sites
SC Derby 259 Posted September 29, 2016 Halifax are the lender you need. Will work on one years accounts. Share this post Link to post Share on other sites
Ocsltd 133 Posted September 29, 2016 5 minutes ago, SC Derby said: Halifax are the lender you need. Will work on one years accounts. Really? That's great news! I thought a mainstream lender would have needed at least 2/3 years? Thanks for the info.... Share this post Link to post Share on other sites
SC Derby 259 Posted September 29, 2016 My barber got a mortgage on one years books through them and I checked it out and it is possible, definitely. Share this post Link to post Share on other sites
Ocsltd 133 Posted September 29, 2016 2 minutes ago, SC Derby said: My barber got a mortgage on one years books through them and I checked it out and it is possible, definitely. Ok, thanks. Will make an appointment with one of their mortgage advisors. Appreciate the info. Share this post Link to post Share on other sites
James Baggott 227 Posted September 30, 2016 I've got a brilliant mortgage adviser who can help. Want her details? She's all of market and helped with mine. Well worth a chat! Share this post Link to post Share on other sites
Ocsltd 133 Posted September 30, 2016 55 minutes ago, James Baggott said: I've got a brilliant mortgage adviser who can help. Want her details? She's all of market and helped with mine. Well worth a chat! Hi James, yes please! Going to make an appointment with Halifax, but no harm in having a chat! Cheers Share this post Link to post Share on other sites
Max Branning 149 Posted September 30, 2016 Speak to a mortgage broker before going to the Halifax. A good one will more than likely charge for their services but they know exactly what the lenders need to get the mortgage through otherwise you could end up getting an agreement in principle from the bank just to end up getting turned down later down the line. They will also have access to all rates across lenders so you could end getting a much better deal with a broker. Share this post Link to post Share on other sites
justina3 518 Posted October 1, 2016 makes my eyes roll now looking back how easy it was to get funding for anything and everything, no wonder the markets went belly up the world is a different place these days thats for sure Share this post Link to post Share on other sites
James Baggott 227 Posted October 3, 2016 Anna Marrufo ( CeMap, CII level 3) AM MORTGAGES Phone: 023 9234 2560 Mobile: 07470 465887 anna@ammortgages.co.uk ammortgages.co.uk Try Anna above - tell her I sent you! Share this post Link to post Share on other sites
Ocsltd 133 Posted October 3, 2016 31 minutes ago, James Baggott said: Anna Marrufo ( CeMap, CII level 3) AM MORTGAGES Phone: 023 9234 2560 Mobile: 07470 465887 anna@ammortgages.co.uk ammortgages.co.uk Try Anna above - tell her I sent you! Thanks James, will do... Share this post Link to post Share on other sites
sparky 274 Posted October 4, 2016 On 10/1/2016 at 9:32 AM, justina3 said: makes my eyes roll now looking back how easy it was to get funding for anything and everything, no wonder the markets went belly up the world is a different place these days thats for sure Indeed. I know it's Hollywood, but The Big Short is well worth viewing and pretty frightening to watch. Good job all those naughty bankers and financial big wigs have seen the error of the ways and have now found their moral compass....... Share this post Link to post Share on other sites
Craig F 0 Posted October 4, 2016 I did this very same exercise at the end of last year. As the sole director of a LTD company my accountant referred me to an independent adviser he regularly uses for his clients. This was handy as the two of them had a relationship so when the Mortgage Broker needed anything they went directly to the accountant. You need someone who can think outside of the box a bit and my advice would be DO NOT GO TO A MAINSTREAM LENDER SUCH AS THE HALIFAX. You will get some snotty nosed box ticker intent on flogging you a load of other stuff as well. I used a gent called Antony Weeks of Tyler Mortgage Management who used a lender that would take 100% of my companies gross profit as a lending multiple which is handy if you have been showing profitable books as it sounds you have. His contact details are Antony.Weeks@tylermm.com or 0207 484 9209. Proper chap who likes his cars as well! Share this post Link to post Share on other sites
justina3 518 Posted October 5, 2016 100% of your Gross profits ? as proof of income, wowsers he must work some great vodoo skills to get that through in this day and age Share this post Link to post Share on other sites
