Mortgage and Shareholders

[DimPrawn]

Because this is a mortgage where they base your income on salary and dividends. Now if the wife is a shareholder and say has 50% of the shareholding, she is entitled to 50% of the dividends and hence your income is reduced accordingly.

You could of course pay all the profit of the company as your salary, but then you'll give over half to the govt to pay for bankers bonuses at bailed out banks instead.

Who do you hate the most, the wife or the bs?

[tigerinhunt]

Spoke to one of those brokers which do contractor specific mortgages, he asked me this question i.e. am I the only shareholder in the company?

when I asked him how does it affect, he kind of did not explained. So am I here. Any more ideas?

[Support Monkey]

I think your confusing your company with you personally, a mortgage will be a personal issue based on your earnings as an employee (of your own company) you personally will apply for the mortgage so just get it in your name if you want, other employees (wife) will have no bearing on a personal mortgage application

please correct me if incorrect anyone

[tigerinhunt]

Hi, Wife is shareholder in the company and I am looking for a mortgage but want it to be in my name only. Can someone please advice how her being shareholder will affect this?

Many thanks,