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The majority of lenders use salary or directors remuneration plus dividends when assessing income for mortgage purposes.  However, a couple of lenders use an alternative method which is salary + share of net profit, or even salary + dividend + share of net proft assuming the applicant is a majority shareholder.  This mortgage lending policy is useful if your firm has performed particulary well but you have not needed to pay yourself a large income, yet still need to borrow for mortgage purposes and therefore prove an income.

Partners of firms usually have their incomes assessed in the reverse, typically using salary + share of net profit, however, the same lenders mentioned above do the reverse and use salary + dividends as evidenced in the individual’s SA302’s.

Please give me a call if you wish to discuss this policy in more detail if you need to take advantage of this knowledge.

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Austin Degge


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