Mortgage Questions

[Mappy]

Hi all,

I have few mortgage related questions I need help with

- Is a Directors loan the best way to top up a deposit?
- What level of checks are the banks making these days - if anyone has gone through this process recently

I'm about to make an offer on a house, I have 4 years of contracting history with a small break last year, Also the bank have said they would need personal and business statements - how much detail do they go into on these statements?

Just worried that I could get scuppered down the line!

Any help appreciated
Mappy

[Waldorf]

Had my mortgage for a while now, but taking a loan from the company is not the way to fund this, you are likely to need the cash for a while and the tax issues are messy so it looks like you will hav to take a dividend to fund the deposit.

This may help - http://www.nixonwilliams.com/images/...20Accounts.pdf

[northernladuk]

Just worried that I could get scuppered down the line!

Any help appreciated
Mappy

Have you got something to hide then? You will only get scuppered if you get caught doing something you shouldn't be.

Check out the main site on CUK. It has links to companies helping contractors with mortgages so they will know the details.

[Mappy]

Have you got something to hide then? You will only get scuppered if you get caught doing something you shouldn't be.

Check out the main site on CUK. It has links to companies helping contractors with mortgages so they will know the details.

No nothing to hide, except for my reckless spending habits and treating the business funds as my own,

But we all do that - don't we?

[northernladuk]

No nothing to hide, except for my reckless spending habits and treating the business funds as my own,

But we all do that - don't we?

Speak for yourself...