Jones and Young

Jones & Young are specialist mortgage brokers for the self employed and company directors, contractors and CIS workers. We understand how the self employed are paid so we are able to place you with the right lender for your company set up.

We can use retained profits and net profits so you don’t need to use taxed dividends as income. Use your gross day price for contract workers or CIS (construction industry system) workers. As we are not using your taxable income for affordability you can run your company tax successfully and still borrow the mortgage funds you want. We have lenders who calculate affordability using the latest years accounts, the majority of lenders require approximately the last 2 years. We also have lenders who only require one year trading background. Sadly there is a large knowledge gap in the mortgage industry for self employed, company directors and contractors.

A large number of advisers don’t understand how the self employed are paid or how the lenders treat them differently relying on what figures we use to calculate their income. As self employed are paid in a couple of different ways (depending what they do) gives us chances to make the most of a lenders criteria to the clients advantage so they can borrow more. This means the client can save money in tax, as they don’t need to be less tax efficient just to show a high enough income to get the mortgage they want. They can also borrow more money without getting a big tax costs. Client benefits as they can carry on uses taxable deduction to limit tax and not have to stress they can not get the mortgage they want because on paper they don’t earn enough.

What we do is most effective in the IT and Construction industry because they have alot of contract workers. We also do equity release for clients over age 70 who intend to release equity in their home in order to cover up income for day to day spending, inheritance tax planning, present to household, enhance the home or luxury items.