Another question.
I am in a self employed partnership with my wife. We would dearly love to get a mortgage,in fact we have had an offer accepted for a small cottage.
In the next 2 weeks we will see whether we can get the mortgage we need.
Is there any legal tweaking that can be done to make sure we get the maximum out of our net profit figures. I know this may sound a stupid question
But we've worked as hard as possible to get even close to this stage and we want make sure we squeeze every area to increase our chances..
Many thanks
Nathan
Replies (6)
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Your accountant is probably the best person to ask.
Of course, you may also be increasing your taxable profits.
Yes
No requirement to include depreciation or amortisation in non Ltd co accounts. Make sure you are recording all stock held at the end of the year and work In progress. Ensure that all excess provisions and accruals are released.
Rod
Don't make a rod for your own back.
The more you borrow, the more you have to repay.
Be realistic.
i would check the lenders requirements
Speak to your accountant who should be able to assist but moreover I would check the lenders requirements for self employed persons and their lending criteria , getting a mortgage is alot more involved than it once was.