Residential mortgage for company director

Our client trades through a limited company which he owns 100%, established just under three years ago and thus, only had two years’ worth of accounts.

He paid himself a salary of £7k pa and took a dividend of £20k in each of the last accounting years. However, the company’s net profit was £120k in the most recent year and £105k in the previous year. We were able to place a mortgage based on his salary plus share of net profit rather than the usual salary and dividend structure which enabled him to borrow £580k (unlike the £135k he would have been limited to ordinarily).

Here are the details of the deal:

Property value: £967,000

Loan amount: £580,000

Rate: 2.29% 2 year fixed

Term: 25 years repayment

LTV: 60%

Lender arrangement fee: £995

Completion date: March 2014

This is just one example of how I've helped a client secure finance. To see more of my case studies please visit my profile page. And if you have any funding requirements, please do not hesitate to contact me. My direct line and email address can be found below.