Report topic or post
If you feel like the content shown below has broken cherry's rules, please click the "Report to cherry" button at the bottom to let us know why.
Hi there
Happy to speak to your BDM for you? With the best will in the world I sadly don't have capacity to get into case specifics but really happy to support you getting in touch with BDM/TBDM or our telephone teams who are the go to for all things policy/case specific.
I did though speak to our head of UW on this to get you a more specific answer on this one:
As he has a 10% shareholding, we would consider him as an employee (not self-employed) and would consider him employed by family business (assuming his Dad owns the business)
Therefore, to confirm income we would need
- Latest monthly payslip (if using overtime or other reg payments would need last 3 mths)
- Last 3mths bk stmts showing salary credits and dividend payments
- I presume the dividends are paid monthly – if so the last 3mths vouchers – this income would be considered as dividend income and considered as secondary income
If dividends are not monthly, can we find out their regularity and then we can advise what evidence we would want.
In some instances, due to the close relationship between employee and employer we may also need to see 2yrs accounts to assess the sustainability of the business – if the underwriter felt this was required, we would request once they had assessed the income evidence as above.
I hope this helps a little and do let me know if you would like me to have a chat with your BDM.
AJ
