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rive_gauche
@Sam_w
Another mortgage question, purely hypothetical at this stage, I will of course speak to a broker when the time comes...
We are looking to move in the next 18 months, we currently have a very comfortable mortgage with a LTV of around 75%, and when the loan was taken out it was about 2x our combined salaries.
However, from January I have moved from being on salaried PAYE to being on a much smaller salary (about half of previous level) and taking the rest as dividends (I own 25% of the business now), it looks like dividends for the calender year will mean that I will earn significantly more this year than previously. I am slightly worried that this will make it difficult to get a new mortgage, we won't be looking to extend the value, just move geographically. I have worked at the company for just over two years, and it has been going for five years, it had a pretty shocking year last year, with profits close to zero, so worrying that this will also negatively impact my ability to get a mortgage.
My question: Am I unduly worrying? And is there anything I should be doing to make it easier to get a mortgage in 18 months time?
Thanks!