Mortgages for Company Directors Who Need to Borrow More

Being a company director can be really challenging, especially when it comes to getting a mortgage.

You might assume that mortgage lenders will treat you the same way as anyone else, but that’s not the case – and this can mean that you are restricted in terms of how much you can borrow.

And if you can’t borrow the amount you need, you might miss out on getting the home you really want.

The reason this happens is because Limited company directors are often advised by their accountants to only take the level of salary and dividends they actually need to live on. After all, why take out more and increase your tax bill?

To find out which deals are available to you, all you need to do is click the button below to book a free no-obligation meeting with us.

But when it comes to mortgages, this can backfire. As you may already have discovered, a lot of banks will limit what they’ll lend you or reject you outright because, on paper, your drawn salary and dividends make it look as if you can’t afford the mortgage you’re applying for.

So what’s the solution? Well, you could take an extra one-off dividend to boost your income. But that is going to mean you get hit with a hefty tax bill. And, even if you do this, some lenders still won’t like to take that extra income fully into account.

This is why you should talk to us.

At Firstxtra, we’re not just any mortgage broker. We’re the specialist you’ve been looking for. We understand the intricacies of a director’s finances. We have partnerships with lenders who consider not just your salary, but also your company’s net profits so the money that you’ve sensibly left in the business can now be used to support your mortgage application.

Our expertise lies in interpreting financial accounts, ensuring your financial health is presented in the most favourable light. Whether you’ve been trading for just one year, recently transitioned from sole trader to limited company, or simply have complex company accounts, we have a solution tailored for you.

And, even better, we can handle everything for you – including liaising with your accountant to get all the financial information and paperwork that the lender will want to see. Which means you have more valuable time to keep running your business.

Our huge choice of lenders and expertise not only means we can get you accepted more easily, it also means we can find you the best possible rate for your circumstances and keep your monthly repayments affordable.

To find out which deals are available to you, all you need to do is click the button opposite to book a no-obligation meeting with us.

Your home may be repossessed if you do not keep up repayments on your mortgage