But stop for a moment.
Do you have any remortgaging or borrowing requirements in the next 12 months?
Self-certification is dead. Mortgage lenders are looking at numerous ways to reduce the net profit figure they use. If you want to borrow in the next financial year, you need to make sure that you have the relevant income for the lenders’ affordability calculators. Your net profit needs to be high enough for your future borrowing.
Sometimes it pays to pay more tax.
If you want to know high much income you need to borrow in the coming year, come and talk to us at Limetree. We’ll be happy to advise you.