MORTGAGES FOR BUSINESS OWNERS / ENTREPRENEURS | SELF EMPLOYED | CONTRACTORS
Mortgages for Business Owners
Mortgages for business owners and entrepreneurs is absolute pure passion of mine, given that I also run a business. I have always loved working along side business minded people and feel privileged I can help them along their property journey!
Mortgages for business owners can much more complex as you may set up your business using multiple methods and there are many options to paying yourself. You may be self employed, a limited company paying dividends and a salary, a shareholder, you may retain profits.
Mortgage companies will have a range of requirements dependent on your set up. Mortgage Chain understand your requirements better than anyone, given the fact we apply the same principles to our own business. We are able to provide you with the maximum support and take all the strain and worry when buying your dream home. When you come to us for advice, we will make sure you are properly prepared.
Mortgages for Business Owner borrowers are treated the same as any other borrower in respect of the required deposit. Lenders will lend upto 95% loan to value.
How Much Can I Borrow
Lenders criteria will vary, but most lenders will lend between 4.5 – 5 times income, with the exception of one lender, currently lending 5.5 times income for mortgages to business owners.
As a business owner there are many different documents you maybe asked for. These include:
- SA302 or Tax Calculation
- SA100 or Tax Return
- Tax year overview
- Accounts or certified accounts