Bear with me here....

[ASB]

If the mortgage is in her name, you can still have the deeds in your name as well, only problem is that you have to declare to the mort co and they will then adjust the LTV ratio they're prepared to lend.

A partial way round that is via a deed of gift. It's not as secure as being named on the deeds but can keep the lender of the case.

[Crossroads]

I forsee that this will all end in tears...if you (or rather, she) actually manages to secure a mortgage.

If the mortgage co sees that she is Co Secretary, or that her personal address is the same as her employer (i.e. your ltd) then they are going to smell a rat.

The chances of you finding a lender that will allow your name on the needs without you being the mortgagee (given your credit history) is pretty unlikely.

So when she does feck off, you will lose every penny that has been put into the house. And if by then you have kids, then you'll lose a lot more!!!

Have you spoken to someone like ContractorMoney to see if they can offer anything?

[PAG]

Have you considered BTL. (buy to Let). Pay 25% deposite and no questions asked !!!!

[Bluebird]

You could of couse put her down as employed by your co for the mort co - if they ever ask - it's you they'll speak to, so you can say yes.

Problem will be is if they ask to see 6 months bank statements...

[tino]

Hi,

I could be wrong here but the one factor that no one seems to have mentioned is the tax. I am under the impression that you pay more Income Tax on a second job than on the first. Perhaps one of the accountants could answer that one.

But apart from that if you pay your girl £2,500 a month surely Gordo is gonna grab at least 30 odd percent of that as tax and NI. You need to find out how much it would be because this could be a very expensive method of getting one over the mortgage approver.

Also, unless your girlfreind earns less than 17K a year your gonna push her into the high tax bracket.

I had considered that mate, as it's only for 3-4 months, it won't make a great deal of difference. She makes almost nothing at the moment so it's a needs must at least until the mortgage is set up

[Langkawi]

Hi,

I could be wrong here but the one factor that no one seems to have mentioned is the tax. I am under the impression that you pay more Income Tax on a second job than on the first. Perhaps one of the accountants could answer that one.

But apart from that if you pay your girl £2,500 a month surely Gordo is gonna grab at least 30 odd percent of that as tax and NI. You need to find out how much it would be because this could be a very expensive method of getting one over the mortgage approver.

Also, unless your girlfreind earns less than 17K a year your gonna push her into the high tax bracket.

[Bluebird]

If the mortgage is in her name, you can still have the deeds in your name as well, only problem is that you have to declare to the mort co and they will then adjust the LTV ratio they're prepared to lend.

[tino]

I'd say this is a bad idea all round.

Just say the misses leaves you your not going to have any come back on her. Now dont say "my darling would never leave me...." becuase I've seen it happen many, many, many times. She ******* can and will.

Get something legal in there.

Fair Dues mate - I realise she can........

If she's that feckin daft then she can take her chances

She wouldn't be able to pay the mortgage on her own and when we are in the new house and the salary to her stops, I can prove I have been paying the mortgage hence "common law"

I'll take my chances bud, just wanted to know if what I was doing was above board :

[Sockpuppet]

I'd say this is a bad idea all round.

Just say the misses leaves you your not going to have any come back on her. Now dont say "my darling would never leave me...." becuase I've seen it happen many, many, many times. She ******* can and will.

Get something legal in there.

[tino]

if you are planning to pay you co sec a salary of £2,500 a month, then GB won't have any problem. GB only gets wound up if you pay in form of Div . But as your partner is ONLY co. Sec she doesn't qualify for div anyway.

Good stuff - the bints only getting it till she gets the mortgage anyway

[PAG]

if you are planning to pay you co sec a salary of £2,500 a month, then GB won't have any problem. GB only gets wound up if you pay in form of Div . But as your partner is ONLY co. Sec she doesn't qualify for div anyway.

[glashIFA@Paramount]

Believe me mate - I have, and it's not.......

I have been a feckwit in the past but hey

Ahh well......

[tino]

I'm sure you've checked already but sometimes peoples perceptions of their credit ratings aren't, in reality, as bad as they think and lenders can be quite flexible.

Just in case you ahven't already done so, i would suggest you find a good mortgage broker just to check whether it's possible to get your name on a mortgage application.

Believe me mate - I have, and it's not.......

I have been a feckwit in the past but hey

[glashIFA@Paramount]

I am setting up a Limited Company currently and my partner will be acting as company secretary.

My Credit record is pretty shocking and we are looking to buy a house currently - so the proposition is that for now, we put the house in her name only.

Obviously on her income she couldn't afford the mortgage but with mine we could easily.

Is there any issue on me paying her say £2,500 a month for her being my company secretary??

Would El Gordo be a bugger about it??



Cheers

I'm sure you've checked already but sometimes peoples perceptions of their credit ratings aren't, in reality, as bad as they think and lenders can be quite flexible.

Just in case you ahven't already done so, i would suggest you find a good mortgage broker just to check whether it's possible to get your name on a mortgage application.

[tino]

I am setting up a Limited Company currently and my partner will be acting as company secretary.

My Credit record is pretty shocking and we are looking to buy a house currently - so the proposition is that for now, we put the house in her name only.

Obviously on her income she couldn't afford the mortgage but with mine we could easily.

Is there any issue on me paying her say £2,500 a month for her being my company secretary??

Would El Gordo be a bugger about it??


Cheers