E Mids lenders that understand what they're looking at
Has anyone come across a lender in the East Mids that can:
a - read what is actually on the paper they are given;
b - understand simple tax comps (SA302);
c - can deal with dividends being paid in a tax effective way, i.e. on the spouse's shares; and, maybe we're pushing it now
d - understand a balance sheet and P&L a/c.
A client has provided everything, jumped as high as asked and then the dim idiot given the papers has passed up the food chain figures after personal allowances, ignored the wife's dividends and taken fixed asset NBV as 'net assets'. To add insult to injury, said idiot was asked to call for clarification and when it was explained gave the affirmative when asked if she understood.
The client only wants an extra £30k secured on property with c£45k equity even now.
Of course, I have just received a call from the client who is unhappy with the resultant refusal - FYA(musement) - last year they were £5k income away from borrowing £300k, so the income figures aren't exactly pi$$ poor.
<rant bit> It would appear to me that the next financial meltdown will be around the corner, should imbeciles such as this example remain in employment with the banks. Perhaps the rules on sacking could be relaxed enough to allow instant dismissal of blatant dross.
- Cash in Hand 150 3
- Buy to let and capitak gain 183 5
- are receipts needed? 634 17
- SA302's anyone?? 616 18
- Charge for use of credit card - permitted 332 8
- High value residential property - SDLT 15% 127 1
- 2013/14 failure to submit end of year submission 352 12
- Busines software 164 5
- Goods Purchased for Rental 197 6
- Converting a barn for business use 187 2
- Sale of house with planning permission - tax free? 315 4
- Flat rate Vat Scheme & Vat on wholesale production of Cakes and other deserts 317 12
- HMRC overreaching its powers -again against a small surveying firm? 486 10
- Going to need a tax, insolvency and legal specialist I think 323 3
- Bookkeping software 731 7
- Clogged Losses 282 5
- Letting relief on property transferred to a spouse 275 9
- ideas for a bonus scheme for accountants 661 10
- New Built in oven - allowable as repair? 274 4
- Accounting for Bank Loyalty Rewards? 129 1
- Nil Rate Band Trust - index linked debt by way of charge over property 910
- International interest certificate 522
- NOVA 372
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 327
- Management expenses for investment company 275
- Bonus Bonds 269
- Entertainer withholding tax in Australia 185
- P11D benefit received by widow 165
- EXACT ONLINE 160
- Insolvency and whistle blowing 159