2 hours ago
There seems to be this myth that you can't get a mortgage if you're self-employed.
I 've heard it time and time again over the years, and I'd love to re-assure you that business owners can get access to exactly the same range of mortgages as employed applicants - subject to a few important points, and your application being correctly packaged.
1. You must be able to prove your income
This means if you're working cash-in-hand or not putting things through your books, the money does not exist as far as the lender is concerned, and they won't use it when working out how much they will lend you.
The days of self-certification of income are (thankfully) long gone - and a lender will want to see either your accounts, your SA302 (online tax return statement) or get an official reference from your accountant. You should let your accountant know that you are looking to buy a house, as their default working position is 'claim everything and reduce the tax bill' and in practice some costs and allowances can be deferred or not used so that your 'net profit' figure is higher - yes, you'll pay a bit more tax, but it will boost your borrowing capacity.
2. It’s all about the trend!
You normally need 2 or 3 years proof of income to get a mortgage, and to be showing a consistent income or increasing trend. You can do it on one year’s figures and an accountant’s projection with the right lender, but you’ll pay more per month for a special deal like this.
So, if you’re thinking about buying a home or re-mortgaging and you’ve recently set up a business, you need to make sure your figures look as good as they can, as soon as they can.
If you have an explainable dip in your takings, it’s not necessarily a problem, if you approach the right lender.
3. Present your case in the best light
A good financial adviser will be able to look at your accounts and SA302 and work out which makes your case more attractive to a lender. Unless you’re using 5th April as your year end, the figures will be different on paper.
Some lenders will let you use your share of the net profit ( and they don’t mind whether you actually withdrew it as income or left it in the company account for next year) – others will let you use your actual salary plus dividends. Others will let you use salary plus your share of net profit. Choosing the correct lender can be the difference between you getting the loan amount you need, or missing out on your dream home.
I’ve been arranging mortgages for business owners for more than 12 years, so if you have any questions – fire away!! ... See MoreSee Less
20 hours ago
Just before Christmas I got to be a guest speaker at the amazing Women of Wearables London event - Empowering Women Financially - and I just wanted to share something important with you about it.
There were over 70 women in the event and I met some really interesting people, including a newly qualified financial adviser who made a bee-line for me, when she saw I was one of the speakers.
It was great to chat to her and tell her how I managed to create my unique business, among the sea of men in grey suits which typify a Financial Adviser. I told her how I started, what worked (and what didn't) and I didn't feel at all threatened by having another Financial adviser in the room.
In business, there are enough clients for everyone - you are not in 'competition' with anyone else - just be you and attract those who want to work with you!
So I was quite happy to connect with her online and help her make her business better.
Something similar happened in the panel session.
I was sat on the middle bar stool ( and amazingly for me I managed to not fall off it) between two other amazing guests, who you could argue are the complete opposite of me and what I represent and were telling the audience in some places something completely different than I would - and do you know what? That's ok too!
One guest has written a book about how women can, and should invest their money for the future, and how they can do it themselves - without needing to find (or pay for) a Financial Adviser.
The other guest runs an online platform, that lets women do just that. Invest as little as £10 a month, and make all their own online investment choices.
Was I negative or argumentative? Nope. I just explained that lots of people are happy to go online, choose their own investments and go it alone. But for those who would like help in choosing the right tax wrapper ( Pension, ISA, investment account), risk rating or anything else, then using a Financial Adviser is the way to get the expert help that you need.
I answered questions, added value and had ladies queuing to get my business card, some of whom have already connected online.
It's important in business to meet your client where THEY are - and offer a range of ways that people can work with you. Some will need a 121 , full hand holding service, and others would rather go it alone, and seek advice when they get stuck.
Having a range of options, is what lead me to release my NEW Retirement Snapshot Service - is a way forward for some people who need to be sure they'll not run out of money in retirement.
If you want to be clear on what your pensions are worth, and whether you should be paying in more than you are, the Retirement Snapshot Service is a cost effective way to have a 121 Zoom Call with me to review your personalised report - which I will produce just for you - in a beautiful, easy to read ( and understand) format.
You do the three simple prep tasks at your own pace, and then get an expert view on your future, at a fraction of the price that a Full Financial Review would cost.
If you'd like to see if this would be a good fit for you, please click here >>> go.peacetogether.co.uk/p/snapshot or send me a message and we can have a chat.
It's not for everyone. Some of you will still want to work 121 with me and do the full hand-holding thing, but if you'd like some support and are happy to do a little bit yourself - then this is ideal for you.
I can only fit in 2 people this week so act now if you want in!! ... See MoreSee Less
"But, I love my job, I'm not going to ever retire"
Does this sound like you?
If you're running an amazing business which you LOVE, then the old-fashioned view of retirement, just doesn't feel right, does it?
So it's time for a glimpse of something different - let's call it
"Modern Retirement Planning" - think of it as your planned exit strategy!
and you can pick up my FREE Guide - the "12 Numbers you need to know" by clicking the link below! www.subscribepage.com/12NumbersGuide ... See MoreSee Less
I loved being an expert on this podcast!
If you see any other podcast opportunities that might like to hear from me - please let me know!
Listen more click below >>>> ... See MoreSee Less
You know you can claim mileage and uniform through your business, but there’s loads of other ways that your business can make your life easier (and your tax bill lower)!!
Click here to find out more >>
peacetogether.co.uk/blog/10-things-you-didnt-know-you-could-claim-on-your-tax-return/ ... See MoreSee Less
Did you do one of those careers testing things at school - to see what you should be when you left school?
It asked you a series of questions, which you answers yes/ no/ maybe to and then it printed out a list of suitable career options based on what you'd said.
Mine said I should be a french teacher! Which wasn't a surprise, bearing in mind that I looked at each question and tactically answered it based on anything to do with learning and languages - because at the time, I really did want to be a french teacher - or at least it had been suggested to me as a suitable career choice!
But despite me ultimately choosing another career pathway ( or two), I've always been good at explaining stuff - and have a knack for getting even the most confused client to have that lightbulb moment of understanding.
Last month, I was asked to run a zoom session with a lady to chat through all her pension figures and really explain what they mean, so that she knows what to do next.
Se wanted to know if she will have enough when she comes to retire, or if she needs to do something now to ensure that she doesn't run out of money when she gets to retirement age.
The thing is - she already has a financial adviser ( well her husband does) who had given her the info in a very long, wordy report - and she really didn't understand what it meant.
I suggested that she goes back to him and asks him to explain, as it is likely that they are paying for an ongoing service from this guy, and that he should then find a way to help her with this.
But she wanted me to go through it with her, as she's lost faith in him.
So we did a 121 vision call by zoom and went through all the figures, what they meant and the impact on her future. I provided an easy to follow report, with her personalised graphs imbedded in it, so that she can see the information in a way that makes sense to her.
And she was over the moon.
This was the inspiration for the Retirement Snapshot Service - a new way to REALLY understand what your retirement could look like based on the pensions you currently have.
Available online, or as a VIP in person day ( at my home with the alpacas) - priced from £249
Message me now to see if this might be the solution you've been looking for. 🙂 ... See MoreSee Less
Peace Together Money Coaching with Claire Sweet updated their cover photo.
5 days ago
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It may be that you love your job, and will never really stop working, but one day you'll want to work less hard and need to make sure you still have money to pay for the nice things in life? 🍸🏖🙋♀
But do you understand what that means for a modern business owner like you?
I've put together a brilliant FREE guide to help you get your head around the numbers you need to know - without overloading you with stuff you don't need!
Click below to get your copy NOW >>
www.subscribepage.com/12NumbersGuide ... See MoreSee Less