Mortgages Archives - Macon Financial Planning

Can I get a £2 million mortgage if I own my own business?

chopson — Mon, 09 Nov 2026 13:44:07 +0000

How early advice, patience and the right lender helped a London family move closer to the home they wanted.

When a London family wanted to move to a larger home, they had a clear idea of where they needed to live. Schooling and work commitments meant staying within a particular area — and buying there would require a mortgage of more than £2 million.

The difficulty was not simply the size of the loan. The couple earned their income in very different ways, and the company owned by one applicant was still relatively young. Their first conversation with Macon took place around 18 months before they were ready to proceed.

Why was the family’s mortgage more complicated?

One applicant worked in the City, earning a salary plus bonuses. The other was a company director who drew approximately £50,000 a year from the business, with decisions about personal income taken in consultation with their accountant.

For company directors, the amount taken personally does not always tell the full story of how a business is performing. Some lenders assess salary and dividends or other evidenced personal income; others may, under their own criteria, consider an applicant’s share of company profits. Lenders can also differ in how they assess bonus income, trading history and accountant-prepared forecasts.

That does not mean business profits can automatically be used to support a mortgage. It means identifying the right lender — and having the right evidence — can be particularly important.

The first conversation: what was possible then?

Dan Williams, who advises on mortgages at Macon, initially assessed the couple’s circumstances and gave them an indication of the borrowing they might be able to achieve at that point. It fell short of the amount they needed for their intended move.

The company had not yet built up the trading history or level of profit required to support their target borrowing. However, the clients expected the business to perform better than anticipated in the current financial year.

Dan spoke with their accountant, with whom Macon already had an established working relationship. Those discussions indicated that the next set of accounts could show net profits ahead of the original forecast, potentially providing stronger evidence for a future lender assessment.

The answer was not necessarily “no”. It was that the figures did not support the move yet.

Rather than encourage an application before the financial position supported it, Dan explained why the timing mattered and what a prospective lender would be likely to examine. The family could then continue planning with a more realistic understanding of their options.

Keeping the plan in view over 18 months

Dan stayed in periodic contact with the couple and their accountant. These were not conversations about pressing ahead with a mortgage. They were an opportunity to check that the family’s objectives remained the same and to revisit the position as the company developed.

Their priority did not change: they wanted a larger family home in a particular part of London, close enough for schooling and work. Moving to a cheaper area was not necessarily a practical answer.

As the company’s trading history became more established and its financial performance improved, there was a stronger basis on which to consider the mortgage again.

Finding a lender prepared to assess the whole picture

When the couple were ready to proceed, Dan needed to identify a lender comfortable with a mortgage of this size and with the way both applicants earned their income.

That meant understanding which lenders might consider the director’s share of company profits rather than relying only on the income drawn personally, and which could assess the employed applicant’s non-guaranteed bonuses. The lender also considered information and projections prepared by the accountant alongside the company’s record of growth.

Dan drew on his knowledge of lending criteria and established relationships with lender business development managers to identify a suitable lender and understand how best to present the case. Those relationships did not replace the lender’s checks; they helped establish which lending criteria were relevant before the application was submitted.

As part of Macon’s usual process, Dan also completed a detailed fact-find and affordability review covering the couple’s income, expenditure and objectives. Working with their accountant, he brought together the supporting financial information for the lender to assess.

The outcome: a mortgage offer exceeding £2 million

The lender issued a formal mortgage offer for more than £2 million, allowing the family to progress with the purchase of a home in the London area they had been looking in.

At the time of writing, the purchase had not yet completed. The clients were pleased that Dan had identified a lender willing to assess their circumstances, and the established relationship with their accountant helped bring the relevant information together during the process.

What might other business owners take from this?

If you run your own company, the income you choose to draw personally may not be the only financial information a lender can consider. Equally, the fact that a lender cannot offer the borrowing you need today does not mean every lender will assess your circumstances in the same way — or that the position cannot change over time.

Different lenders apply different rules, and a larger loan is never guaranteed or automatically appropriate. For this family, the value of the advice began well before the application: understanding the initial shortfall, keeping their plans under review and approaching a lender when the supporting evidence was stronger.

If you are a business owner thinking about moving home, but are unsure how your income might be assessed, an early conversation with a mortgage adviser can help you understand what may be possible now, what evidence could be needed and whether the timing is right.

Important information

This anonymised case study is for general information and does not constitute personal mortgage or tax advice. Individual circumstances and lender criteria vary. A similar mortgage may not be available or suitable for another applicant. All applications are subject to the lender’s affordability assessment, underwriting and approval. Tax treatment depends on individual circumstances and may change.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Dan Williams

Chartered Financial Planner

Contact

The post Can I get a £2 million mortgage if I own my own business? appeared first on Macon Financial Planning.

Could We Secure a New Mortgage Rate Before the Lender Increased Its Rates?

Max Billingham — Mon, 02 Nov 2026 19:04:56 +0000

How acting on the same day helped one client arrange their next fixed-rate deal before the lender changed the rates available on new products.

A mortgage deal coming to an end

A client contacted us on a Thursday morning because their existing fixed-rate mortgage deal was approaching its end date. With everything else going on in life, reviewing the mortgage had slipped down the list of priorities.

They wanted to understand their options and arrange what would happen when their current deal expired. What they did not know was that their existing lender was about to change the rates available on its new mortgage products.

Why did the timing matter?

While reviewing the client’s options, Max identified that the lender was due to increase rates on new mortgage products the following morning. That created a short window in which the client could secure a rate that was still available that day.

Importantly, this was not an increase to the interest rate on the client’s existing fixed-rate mortgage. Their current deal would continue on its agreed terms until it expired. The change concerned the rates being offered for new deals.

Waiting until the following day could therefore have meant that the particular rate available on Thursday was no longer an option. It did not necessarily mean that every alternative deal would have been more expensive.

What did Max do?

Max reviewed the client’s circumstances and arranged a new mortgage product with their existing lender on the same day. This was a product transfer, rather than a move to a different lender.

The client secured the rate available before the lender’s planned increase. The new deal was arranged to start when their existing fixed-rate deal expired — not immediately.

That distinction mattered: the client did not have to end their current fixed-rate period early simply to secure the next deal.

What was the outcome?

The following morning, the lender increased the rates available on its new mortgage products. By then, Max had arranged the client’s new deal at the earlier rate, subject to the lender’s applicable terms.

The client could continue with their existing mortgage deal until its scheduled expiry, knowing that a new product had been arranged to follow it.

This was a useful outcome in a time-sensitive situation, but it is not something we could promise for every client. Product availability, lender processes, eligibility and timing all affect what can be arranged.

Why is it worth reviewing your mortgage before your deal ends?

The real lesson from this case is not to leave your mortgage review until the last minute. Although Max was able to act quickly here, earlier conversations generally allow more time to compare options, understand the costs and decide what suits your circumstances.

Many lenders allow borrowers to arrange a new mortgage product several months before an existing deal ends, although the timing and conditions vary. A review can also help establish whether staying with your existing lender or considering a remortgage elsewhere is more appropriate.

If your fixed-rate deal is approaching its end, it may be worth checking the expiry date and speaking to a mortgage adviser sooner rather than later.

A couple of common questions

When should I start looking at my next mortgage deal?

Around six months before your current deal ends can be a useful starting point, as some lenders allow you to reserve a new product that far in advance. The available window varies by lender and product.

Will my existing fixed rate increase if the lender raises rates on new products?

Not simply because the lender changes the rates it offers to new applicants or existing customers arranging a new deal. Your current fixed rate generally continues until its agreed end date, subject to your mortgage terms. The rate applying afterwards depends on what you arrange and your lender’s terms.

Is staying with my current lender always the best option?

Not necessarily. A product transfer can be convenient, but the right choice depends on the rates, fees, features, eligibility and your wider circumstances. It is worth comparing the available options.

Could your mortgage deal be coming to an end?

If you are approaching the end of a fixed-rate mortgage, we can help you review your options and understand the timing before you need to make a decision.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Max Billingham DipPFS, Cert (MP)

Trainee Mortgage & Protection Adviser

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