£9k salary, £65k dividends and still mortgage approved

Our client, a 43-year-old director of a small but profitable marketing consultancy, had been running his business for over five years. Like many directors, he kept his PAYE salary low at £9,000 per year and relied on dividends fro the remainder of his income – around £65,000 annually.

He wanted to buy a new family home in Surrey and had a strong deposit. But after approaching two high street lenders, he hit a wall.

Despite years of solid business performance and regular dividend payments, both lenders assessed his income based solely on his £9,000 salary.

He was told he didn’t meet affordability criteria – even though he had ample retained profits, a clean credit file, and stable income.

We took time to understand the full picture and sourced a lender that accepted salary + dividends for affordability – something many mainstream banks ignore.

We worked with his accountant to prepare:

• Two years of finalised accounts
• SA302s and Tax Year Overviews
• A supporting letter explaining his income structure

We presented the application to a lender comfortable with limited company income, who valued the director’s proven trading history and consistency.

• Mortgage approved within 7 working days
• Full income recognised (not just salary)
• Secured a competitive 5-year fixed rate
• Client didn’t need to adjust his pay structure or change accountants

“I’d been told I couldn’t afford the house I wanted – even though I know I could. You made the whole process feel straightforward and gave me confidence when I was starting to doubt it. I won’t go near a bank without you again.”