Mortgage for a newly appointed Director

[R400PM]

Morning All

I have very recently been appointed Director and am very nearly in the position to be able to purchase a house (as a first time buyer).

I have two questions:

1) Will I be able to get a mortgage having only been a Director for a month? I have previously been an employee of this limited company since April 2010 and before that since 2005. I can prove my earnings for the last 7 years.

2) Does anyone know a financial advisor that has experience in this particular area of the market?

Any other advice is greatfully received as not only is the house buying completely new to me, so is the aspect of being a Director requiring a mortgage.

Regards

PM

[scotal]

Are you now on a much lower salary with a load of dividends?
Do you own more than 20% of the firm?

[R400PM]

scotal said:

Are you now on a much lower salary with a load of dividends?
Do you own more than 20% of the firm?

I am indeed on a lower salary with larger dividends.

I am a 5% shareholder.

Hope this helps.

[scotal]

YHM.

[R400PM]

scotal said:

YHM.

Thanks

I will have a look shortly.

[KelWedge]

The shareholding is the only issue and 5% should be OK, If paid as salary similar to before and not taking dividends should be OK, you might have to prove earning via lots of payslips if they ask for three send them more and a letter saying why some are more than others if bonus payments come into play.

[dirty boy]

I was in a similar position, I had no problems..