Limited Company mortgages

[tawaz2002]

Hie guys im nearing my retirement have a newly running care agency and wanted to start a property business funded by my care agency (less than a year old due to file first accounts this year).

My plan is the care agency will borrow the property company some cash and i will put in some for BTL mortgages single occupancy to start and wanted to know if anyone has done this or anyone can advise on this. Im sort of in a situation that i need to have more investiments in property as i go and have a few properties to rent for supported living business and healthcare business.

Any pointers anyone ?????

 

[ethical PR]

What did your accountant say when you spoke to them about the best way to do this?

 

[tawaz2002]

not yet communicated in that area looking to get some info if any out there.........

 

[RealDealHolidays]

i dont think an accountant would say its a good idea..you'd be using cashflow from your care business which isn't established yet quite new. Why dont you have a year's profits and use those funds..i mean what would happen if you do this and the care business hits a issue and needs revenue? youd be pretty stuck?

 

[cameron a]

agree. The repayment plan on a corporate mortgage is pretty high.

Not ideal but if you are certain that you will NOT run into any financial problems then why not take out a residential mortgage on a personal property. Then use the funds for other investment if the profit from your healthcare is not enough.