Limited Company: Does This Type of Business Make It Easier to Secure a Mortgage?

 

When the borrower operates under a limited company, the business is legally considered separate from the mortgage applicant. This means that the applicant's personal and business benefits are examined separately. In this case, the lenders will focus primarily on the borrower's salary and dividend payments, so they need to be clear over the past few years. Business accounts are also reviewed to assess the borrower's reliability, so applicants should ensure that their account information is fully updated.

But some lenders take net interest or accrued interest into account. This is the profit kept in the business instead of paying salaries. This issue should be carefully considered before applying to lenders.

SWG Mortgage advisors are familiar with limited companies' performance and provide them with suitable limited company mortgages options with their thorough knowledge of lenders. With the guidance of SWG Mortgage advisors, you will be sure that you will receive the maximum mortgage amount, and your affordability will be carefully assessed.