Auction house

[nathan7654 0]

Hi me and my business partner bought a house at auction. we have put it in our name instead of the companies name, as we thought the banks wouldn't remortage the property when It is in an LTD company. Is this true ? 

Also we would like to put the rent of the property (once renovated) through the company's acc. Does this mean we have to lease the house to the company? Help please. 

[Stuart Phillips 238]

Not true. Thats been well known for a good few years now! There are tons of limited company mortgages, even Nationwide does them through TMW.

Well if you make the company a trading company you wont be able to use it for mortgages later as few lenders allow trading companies, they need to be SPV's for the sole purpose of owning or renting. You can collect rent via the company, thats fine, but i think anything else would be considered trading. Check that with an accountant.