Hi, me & hubby wana get a mortgage together without needing to go for low-doc.
Hubby owns his business and is the company director and have been PAYG getting a wage as an employee for over 3 years. Company makes no profit. I work for another company as employee also getting a wage.
We don't want hubby to be treated self-employed don't want to show company's finance don't wana get a low doc.
We have an idea but not sure if it'd work?? IF hubby transfers his company under my name I become the company director he becomes a normal employee. Would this stop the lender putting us under low-doc? since I work for someone he works for someone (in this case working for the wife's pty) Is there going to be a problem (would the lender check) if the wife is the company director? Would the loan get approved if the wife (myself) has double status for the mortgage application??
Hubby owns his business and is the company director and have been PAYG getting a wage as an employee for over 3 years. Company makes no profit. I work for another company as employee also getting a wage.
We don't want hubby to be treated self-employed don't want to show company's finance don't wana get a low doc.
We have an idea but not sure if it'd work?? IF hubby transfers his company under my name I become the company director he becomes a normal employee. Would this stop the lender putting us under low-doc? since I work for someone he works for someone (in this case working for the wife's pty) Is there going to be a problem (would the lender check) if the wife is the company director? Would the loan get approved if the wife (myself) has double status for the mortgage application??