Posted by
anomander
16 yrs ago
Hi,
Wondering about this . . .
I started a company about 6 months ago and wish to apply for a mortgage in the not too distant future. I know that banks require 3 months worth of salary in your personal bank. So, my question is, would it be alright if I paid myself monthly a fixed salary via autopay, even though the company is mine?
Or, seeing as it a Sole Proprietor company, just show them audited accounts as all the profit is mine anyway?
Hope someone can help!
Thanks.
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Thanks for the useful answer.
Also, thanks for your concern, however, I'm not trying "sleight of hand" or trying to "play the system", just merely trying to find out which way offers me the best chances of getting a mortgage application approved. Incidently, I had put this question to the bank beforehand and all I got was that "whichever way I did it, wouldn't guarantee my approval", which I said I understood, but "which way was better?". The reply was, "neither way guarantees an approval" and round and round we went, until I gave up.
Regards
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There are really too many options and variables to start a meaningful email thread.....we suggest you contact a Mortgage Broker who will give you some free advice before getting too far along. email corporatefinance@apg-hk.com.
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