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The Mortgage Route A to Z
Gross Profit

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

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Letter G

Gross Profit

Gross profit profit of a company before allowing for the expenses of running the business.
This is not a reliable measure of a company's ability to provide income, as not all of the gross profit will be available to the owners for distribution.

See also net profit the income of a company or self employed business after making full allowance for the expenses of running the business (and, in the case of a limited company, corporation tax.) This should be the amount available to the owners of the business for their own benefit and consequently is the figure that can be used to calculate their ability to service a mortgage.

FSA declaration and important text about mortgage advice