Ltd.Co Accounts & Mortgages


A

Anthony

Following on from an earlier thread regarding this topic, I have recently
approached a few building societies with regard to mortgages. In each case,
they asked to see the past 3 years of accounts, which I showed. However,
not one has sought any further confirmation of the accuracy of these
accounts, such as from Companies House or even just my accountant. In the
case of my 2nd company which is a sole trader, there is no 3rd party to
verify ... so what is to stop someone coming up with total pie-in-the-sky
figures just to get a decent mortgage ?? This has only been for a mortgage
certificate ... do they check in more detail when you actually make a formal
application ??
 
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P

Peter Saxton

Following on from an earlier thread regarding this topic, I have recently
approached a few building societies with regard to mortgages. In each case,
they asked to see the past 3 years of accounts, which I showed. However,
not one has sought any further confirmation of the accuracy of these
accounts, such as from Companies House or even just my accountant. In the
case of my 2nd company which is a sole trader, there is no 3rd party to
verify ... so what is to stop someone coming up with total pie-in-the-sky
figures just to get a decent mortgage ?? This has only been for a mortgage
certificate ... do they check in more detail when you actually make a formal
application ??
The source of the information affects how much equity will be
required.

If you want to borrow 20% of the valuation you could write on the form
"I've got a big income"! (practically)



(e-mail address removed)
 

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