Ltd Company residential lending
Posted on 17th February 2023 at 09:14
Not long ago I was asked a couple of questions around this type of income.
- What is lender criteria like for accounts needed?
- Do you think lenders' criteria on accounts is flexible enough? Should there be more leeway?
LTD company lending is not as bad as standard self-employed assessment, we have found that lenders are better equipped to spend more time understanding the business and will consider things like seasonal income etc.
Some lenders can appreciate that LTD company means better taxes too. I prefer them, but they have their pitfalls.
If one year you do very well, take some dividends and then the next year you dont, this puts an instant flag up. Easily manoeuvred, but a delay nonetheless.
Make it simpler.
Make months of bank statements for anyone who can just prove they are still trading, a thing of the past. Accounts are just a record after all.
If LTD company income is your style, get in touch. This is considered a complex income and complex is where we sit!
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