Hi all,
Wanted a bit of advice, I'm a company director who is looking to buy my first property with my girlfriend. She already owns a property but is at a point where she can move her mortgage over to a buy to let and come into a purchase with me.
This will be my first house. We are looking for a property of around £450,000. We have a deposit of around £110,000 combined.
I have had a number of meetings with mortgage brokers who have suggested that between us we can borrow a maximum of £450,000. However, we have been told that due to my being a company director there is only one lender on the market who will consider my case (Clydesdale). That they are the only bank that will look at the overall profitability of my business and make a call on how much they will lend me on that (in my case £250,000).
Can anyone confirm if this is in fact true? Are they the only mortgage company that will consider me as I am a company director?
Will my girlfriend need to take the same rate as me if we are buying together? Can we get separate mortgages? Her job is very secure and she is PAYE at a large corporation. We believe that she would be able to get a much lower rate than I will be offered.
If anyone has any experience of this and could offer any advice I'd be hugely grateful.
Thanks,
Ryan
Wanted a bit of advice, I'm a company director who is looking to buy my first property with my girlfriend. She already owns a property but is at a point where she can move her mortgage over to a buy to let and come into a purchase with me.
This will be my first house. We are looking for a property of around £450,000. We have a deposit of around £110,000 combined.
I have had a number of meetings with mortgage brokers who have suggested that between us we can borrow a maximum of £450,000. However, we have been told that due to my being a company director there is only one lender on the market who will consider my case (Clydesdale). That they are the only bank that will look at the overall profitability of my business and make a call on how much they will lend me on that (in my case £250,000).
Can anyone confirm if this is in fact true? Are they the only mortgage company that will consider me as I am a company director?
Will my girlfriend need to take the same rate as me if we are buying together? Can we get separate mortgages? Her job is very secure and she is PAYE at a large corporation. We believe that she would be able to get a much lower rate than I will be offered.
If anyone has any experience of this and could offer any advice I'd be hugely grateful.
Thanks,
Ryan