Jones and Young

About Jones and Young

Category: Mortgage Brokers

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 best 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 rate 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 current years accounts, most lenders require approximately the last 2 years. We also have lenders who only require one year trading background. However 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 depending 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 possibilities to take advantage of a lenders criteria to the clients advantage so they can borrow much 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 large tax costs. Client benefits as they can continue uses taxable deduction to restrict tax and not need to fret 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 wish to release equity in their home in order to top up income for day to day spending, inheritance tax planning, present to family members, enhance the home or luxury items.