Getting a mortgage as a director of your own Limited Company is possible but may require additional documentation and a tailored approach. Here are some steps to consider:
Prepare Financial Records: Ensure that your company’s financial records are in order, including annual accounts and tax returns. Lenders will want to see evidence of your income.
Choose the Right Lender: Work with a mortgage advisor who has experience with self-employed individuals and Limited Company directors. They can help you find lenders that specialise in these types of mortgages.
Provide Proof of Income: Be prepared to provide evidence of your personal income from the company, including salary and dividends. This may involve sharing your personal tax returns and company accounts.
Deposit and Credit Score: Your deposit and credit score will still play a significant role in mortgage approval, so make sure your financial affairs are in order in these areas.