Yes, you can get a mortgage using retained profits! If you’re a business owner, and you haven’t used your profit yet, you might want to use that retained profit to get a mortgage. However, it can be difficult to do this because some lenders don’t like to accept your profit as an income amount.
The way mortgage lenders calculate affordability if you’re a business owner is usually by looking at your dividend income on top of your salary. But quite often, your retained profits work out much higher than your dividend income and salary combined, so it’s pretty natural to want to use that amount instead because it can mean you could borrow more.
Lenders have their own way of doing things, and a lot of them will stick to their policy of not using retained profits to calculate mortgage affordability. They do this because they think that you should use your own personal income instead of the business income.
But there's still specialist lenders who will calculate a mortgage based on retained profits available to you. And that’s where we come in. Our Mortgage Experts have plenty of experience getting mortgages using retained profits, and will make your application look as good as possible to lenders.
We get how it feels when you’re refused a mortgage. We’ve been there. Haysto exists because the mortgage world is broken. If you don’t have a shiny credit rating, you’re self-employed with a complex income, or just don’t fit the mould, the odds are completely stacked against you. We just don’t think that’s fair.
Unlike others, we only work on bad credit, self-employed and complex mortgages. That’s all we do. And we’re up for a challenge.
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