Withdrawing for deposit

[PerfectStorm]

No worries with Halifax taking my directors loan as I recall. It all looked the same to them anyway. Thinking back, I wonder if I specifically called 10k of it a directors loan or not in their forms. They wouldn't have known either way.

[xenomorph]

Lenders will want to exactly where the money came from.
They won't accept BBL
They generally won't loans (bank, directors, credit cards, bloke in the pub)
Simplest way is to take the div and take the tax hit.
Talk in detail with the accountant AND the mortgage broker

Yeah the BBL was only suggested to clear debt and not use for deposit.

[northernladuk]

No worries with Halifax taking my directors loan as I recall. It all looked the same to them anyway. Thinking back, I wonder if I specifically called 10k of it a directors loan or not in their forms. They wouldn't have known either way.

Don't the request the last 3 months bank statements so would show up on there?

[TheCyclingProgrammer]

Don't the request the last 3 months bank statements so would show up on there?

Unless it indicates it in the payment reference they wouldn't know that a payment from the business account to your personal account is a loan or a dividend payment. But if they ask, you should of course be truthful.

[northernladuk]

Unless it indicates it in the payment reference they wouldn't know that a payment from the business account to your personal account is a loan or a dividend payment. But if they ask, you should of course be truthful.

Indeed but you'd wonder about the quality of their vetting if they didn't spot 20k or more appearing and not asking about it.

[PerfectStorm]

Indeed but you'd wonder about the quality of their vetting if they didn't spot 20k or more appearing and not asking about it.

They ask where your money comes from, you say your company.

Guess Halifax is another organisation that's not wrapped up in contractor theory