HSBC Mortgages Grrrrrrr!!!

[speling bee]

And this is the reason not to use the high street, your better going via contractor money.

when you go in a branch your dealing with the desk monkey who have no power and cannot deviate from the script

+1 for Contractor Money. Very good in my experience.

[Fandango]

And this is the reason not to use the high street, your better going via contractor money.

when you go in a branch your dealing with the desk monkey who have no power and cannot deviate from the script

Yes but this deal is not available via brokers and only via HSBC directly, and beats other offers for the same LTV i'm looking at.

[Support Monkey]

Yes but this deal is not available via brokers and only via HSBC directly, and beats other offers for the same LTV i'm looking at.

Yes but they won't give you it so its not available anyway

[speling bee]

Yes but this deal is not available via brokers and only via HSBC directly, and beats other offers for the same LTV i'm looking at.

It's a pain but at some point you need to accept that you can't have a high rate, tax breaks and the best mortgage deals. Contractor Money will get you a decent deal.

[Fandango]

well i'll be sure to try them if this HSBC deal is a definite no go

[Maslins]

...calculate the the yearly income as Salary + which ever is the smallest of Dividends or NET Profit.

You're right. The above makes sense if it's net profit after tax but before dividends. Taking dividends in excess of a year's profit after tax isn't sustainable.

But yes, I can't see any reason why it would be net profit after dividends. I hope for your sake they'll speak to someone higher up, be told their mistake, and hopefully then give you a decent offer.

[speling bee]

You're right. The above makes sense if it's net profit after tax but before dividends. Taking dividends in excess of a year's profit after tax isn't sustainable.

But yes, I can't see any reason why it would be net profit after dividends. I hope for your sake they'll speak to someone higher up, be told their mistake, and hopefully then give you a decent offer.

It does sound like an error.

[Incognito]

Sounds like i've seen a retard and need to see someone else!

Print this out and advise her to inwardly digest. However, if she is that thick, highlight s.20.

[thunderlizard]

to me that said if the applicant was a director of Ltd company...

director as opposed to shareholder?

[Wanderer]

The woman said they take your salary (£7.5k) + Net Profit in the company AFTER Dividends in my case there was about £15k left each year but having taken (£40k, £46k, & £60k dividends over the past 3 years), then they averaged it over the 3 years. So in my case it came out at about £20k/year!!!

and she said the computer said they could lend me 85K!!!!

I agree with the others, this "manager" is a bit retarded and has read the guidance wrong - you need to go and get a second opinion.