Company Directors
How does Company Director status affect Mortgages?
Directors often opt for a salary below the tax threshold, retaining more profit in their businesses and receiving significant dividends. Since dividend tax rates are lower than income tax, this strategy helps directors maximize their income.
Yet, numerous high street banks assess only the applicant’s personal salary, often resulting in a lower income evaluation. Consequently, this restricts the lending amount, despite the applicant being the director of a presumably lucrative business.
Don’t worry, your dream property is attainable. It’s prudent to seek out a lender specialising in mortgages for self-employed directors. These specialised lenders assess your circumstances, including dividend payments, along with other criteria essential for self-employed directors.
Company Director Mortgages
Experts in Self-Employed Director Mortgages, Turning Property Dreams Into Reality
Regardless of employment status, mortgage lenders require income verification. For employed individuals, this is typically straightforward with contracted salary evidence from regular payslips. However, if your payslips don’t fully reflect your income as a business director, such as omitting dividend payments, high street banks may view you as a higher risk borrower. This might result in non-acceptance or less favourable interest rates.
Our proficient mortgage advisers collaborate with self-employed business directors across the UK, securing optimal mortgage offers. Booking a consultation with a specialist is effortless. We’ll assess your affordability, desired property type, and unique circumstances, ensuring a tailored mortgage deal befitting your status as a self-employed director.
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