Guys and gals. Thinking of moving house next year and I'm thinking of closing down the Ltd and extracting the funds to put towards the deposit. However, if I do this say a few months before the mortgage application I'll effectively be unemployed which wont help the application at all.
Options could be to go umbrella for a while but then there might be issues with providing enough pay slips
Start up a new ltd but then I wont have the 2-3 years accounts to show
Get a permi job ASAP so I have the pay slips to provide.
Other option I though was to estimate the amount of money that will come out of the Ltd and add that to the mortgage application with a no penalty clause to pay of a lump sum (assuming this is something the bank will allow). Then once the move has taken place shut down the Ltd and pay off the additional ask on the mortgage, then the mortgage will be at the level I originally wanted.
Does anyone else have any bright ideas??
Options could be to go umbrella for a while but then there might be issues with providing enough pay slips
Start up a new ltd but then I wont have the 2-3 years accounts to show
Get a permi job ASAP so I have the pay slips to provide.
Other option I though was to estimate the amount of money that will come out of the Ltd and add that to the mortgage application with a no penalty clause to pay of a lump sum (assuming this is something the bank will allow). Then once the move has taken place shut down the Ltd and pay off the additional ask on the mortgage, then the mortgage will be at the level I originally wanted.
Does anyone else have any bright ideas??
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